Shipping group joins 13 others in bidding for Limassol Port

Fresh from its success in securing control of Greece's Piraeus Port Authority SA, China Ocean Shipping (Group) Company, better known as COSCO, is now bidding to run the port of Limassol on the island of Cyprus, in a bid to extend its reach in the Mediterranean Sea.

China's newly combined and largest shipping company by capacity is among 14 investors who expressed interest in placing bids for three concession opportunities, according to a senior source in the Cypriot government.