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Piraeus port’s Cosco administration has welcomed the prospect of the merger of Japan's K Line, Mitsui OSK Lines (MOL) and NYK believing it bodes well for Greece’s largest port.

The three big Japanese marine transport firms - Nippon Yusen Kabushiki Kaisha (NYK Lines), Mitsui O.S.K. Lines and Kawasaki Kisen - are decreasing the number of containerships and bulk carriers in their fleets by 10%, reports Nikkei.