Cyprus Picks Consortiums to Run Limassol Port

By Aiswarya Lakshmi
Friday, February 26, 2016
Limassol Port . Pic: Cyprus Ports Authority

 Cyprus has announced the names of successful bidders who will undertake three sectors of operations at the eastern Mediterranean island's primary port of Limassol.

 
The first – comprising Germany’s logistics company EuroGate International, Cyprus’s Interorient Navigation Company and East Med Holdings, based in Luxembourg – will run the port’s container terminal.
 
DP World Limited (majority participant) and G.A.P Vassilopoulos Public Ltd for Marine Services and  DP World Limited (majority participant) and G.A.P Vassilopoulos Public Ltd for the Multi-purpose Terminal.
 
"We are very satisfied with the process conducted and the end result since, through a transparent and demonstrably competitive procedure, we have three operators with a detailed plan to develop the port operations for the development of commercial activities at the most important port in Cyprus,” Transport minister Marios Demetriades said.
 
The announcement came as the country, which is poised to wrap up a three-year bailout program next month, looks to turn Limassol port into a regional player given its proximity to the Suez Canal, one of the world’s busiest shipping traffic routes. 
 
Cyprus said that it received 14 bids from nine different companies to work on Limassol port. The works were stipulated in the three year, 10 billion euros (11.03 billion U.S. dollar) financial assistance program offered by the Eurogroup and the International Monetary Fund in March 2013.
 
The container terminal and multi-purpose terminal are both expected to be awarded for 25-30 years with a right to exploit and commercially develop. The concession for marine services is expected to be for 10-20 years with a right to operate in the waters at the port and for commercial development of marine services.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday.

U.S. Backs S. China Sea Bilateral Talks

U.S. Secretary of State Kerry says backs bilateral talks; Philippines says dispute does not involve United States. U.S. Secretary of State John Kerry said on

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

Ports

New Container Facility at Krishnapatnam Port

Krishnapatnam Port, India's largest all-weather; deep water port on the east-coast of India has inaugurated CONCOR’s - Port Side Container facility – a Government of India undertaking.

Long Beach Awards Sovcomflot for Green Shipping

PAO Sovcomflot earned the Green Environmental Achievement Award from California's Port of Long Beach, recognizing the shipper for its ongoing commitment to environmental stewardship.

Gulf Petrochem Group Expands European Bunker Operations

Gulf Petrochem Group, the UAE based global bunker supplier, has announced that it is now officially offering physical bunker supply in the port of Rotterdam, out of its new office based in Dordrecht.

Finance

China Joins UN Trucking Treaty

China has taken a major step towards establishing a speedy new "Silk Road" to Europe by signing up to a U.N. trucking treaty.   Fifteen years after joining the World Trade Organization (WTO),

Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday.

Gulf Petrochem Group Expands European Bunker Operations

Gulf Petrochem Group, the UAE based global bunker supplier, has announced that it is now officially offering physical bunker supply in the port of Rotterdam, out of its new office based in Dordrecht.

Logistics

New Container Facility at Krishnapatnam Port

Krishnapatnam Port, India's largest all-weather; deep water port on the east-coast of India has inaugurated CONCOR’s - Port Side Container facility – a Government of India undertaking.

China Joins UN Trucking Treaty

China has taken a major step towards establishing a speedy new "Silk Road" to Europe by signing up to a U.N. trucking treaty.   Fifteen years after joining the World Trade Organization (WTO),

Gulf Petrochem Group Expands European Bunker Operations

Gulf Petrochem Group, the UAE based global bunker supplier, has announced that it is now officially offering physical bunker supply in the port of Rotterdam, out of its new office based in Dordrecht.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0798 sec (13 req/sec)