China's state-owned China Shipping Group may launch a project to develop a transshipment container terminal on the Greek island of Crete, reports business Times Singapore.

The company's president, Li Kelin, wrote that the geographical location of Crete makes it an ideal choice to develop a transshipment centre for the East Mediterranean, the Black Sea and the Adriatic Sea.
 
The shipping group is one of the world's largest and its intention to set up a transshipment centre in the Mediterranean region was a reflection of China's growing exports to Europe.
 
In his letter, Mr Li said that establishing China Shipping's own transshipment hub in the Mediterranean was firmly on the company's agenda, given the rapid growth of the company's container volume on its Far East-Mediterranean services.
 
The company has carried between 800,000 and one million containers to the Mediterranean so far this year. China Shipping operates a total fleet of 400 vessels.