Although Cosco Pacific, the Hong Kong-listed subsidiary of China’s biggest shipping company China Cosc, is expanding in the Mediterranean area after taking part in the acquisition of port in neighbouring Turkey, it faces stiff competition, reports SCMP. Cosco Pacific is investing in Turkish ports after forming a joint venture with China Merchants Holdings International (CMHI) and CIC Capital for the acquisition of equity interests in Fina Liman and Kumport. Its subsidiary Piraeus Container Terminal S.A., which operates Piers II and III at the Port of Piraeus, Greece’s largest port. According to data released the container handling at the two terminals have recorded a year-on-year decline in the second quarter and grew only 0.7 per cent in the first eight months…