Hellenic Republic News

Greece's privatizations agency transferred shares corresponding to a 16% stake in Piraeus Port Authority to Chinese port operator COSCO Shipping after an amendment to a previous concession agreement, it said on Thursday.Last month Greek lawmakers amended a deal with COSCO allowing it to raise its stake in Greece's biggest port of Piraeus, paving the way for Greece to secure a major investment.Under a 2016 privatization deal, COSCO Shipping bought a 51% stake in Piraeus Port Authority for 280 million euros ($328 million) and committed to mandatory investments worth about 294 million euros over

A consortium led by Hill International has won a contract from Thessaloniki Port Authority (THPA) in Greece to support major expansion works at Thessaloniki port.Hill International, a player in managing construction risk, announced that it has signed an agreement with THPA as leader of a consortium including Rogan Associates SA, to provide design and project management services for the planned expansion of the marine works infrastructure of Pier 6.The Port of Thessaloniki is the most important port of Northern Greece and a key transportation hub for Southeast Europe as a part of the Core Network of the Trans-European Transport Network.It occupies a total area of approximately 1.5 million square meters and hosts a variety of activities…

The largest U.S.-flagged roll-on roll-off (Ro-Ro) carrier American Roll-on Roll-off Carrier (ARC) said that its M/V Patriot loaded equipment for the Army’s 4th Combat Aviation Brigade (CAB) at the port of Thessaloniki.M/V Patriot moved a mix of helicopters, vehicles, containers and support equipment used to take part in Operation Atlantic Resolve for 4th CAB, which is returning to Fort Carson, Colorado. 4th CAB is being replaced by 1st CAB from Ft. Riley, Kansas, said a press release.Operation Atlantic Resolve has been ongoing in Europe since 2014, it said.“I am very impressed to see what a complicated logistical undertaking it is to bring an army unit like this one here to Greece” said Geoffrey R. Pyatt, U.S.

The consortium consisting Italy’s Snam, Spain’s Enagás and Belgium’s Fluxys has completed the acquisition of a 66 percent stake in Greek natural gas operator DESFA.According to a joint release, the purchase valued at €535 million ($613.9 million) has been completed with the Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum.The consortium, which won the tender for the privatisation of DESFA in April 2018, has closed the purchase through the new company Senfluga Energy Infrastructure Holdings. The consortium has obtained financing without recourse for more than 10 years, corresponding to approximately 65% of the value of the company.DESFA owns and operates…

Satellite communications provider Inmarsat has signed a memorandum of understanding (MOU) with the Hellenic Space Agency (HSA) to allow greater collaboration on research and potential technology development.The agreement, which will include a focus on satellite projects related to the Internet of Things (IoT) and the maritime sector, was signed this week at the international shipping event Posidonia 2018 in Athens by Inmarsat’s Maritime President Ronald Spithout and Christodoulos Protopapas…

Mitsui Engineering & Shipbuilding Co., Ltd. (MES) said it has completed and delivered a 60,000 dwt bulk carrier M.V. Venezia (MES Hull No. 1959) at its Tamano Works on October 25, 2017 to Eastern Mediterranean Maritime Limited, Hellenic Republic.   This is the 26th ship of the builder's “neo60BC”, and the third Eco-Ship line up of its “neo series”. Length overall: 199.99 m Breadth (molded): 32.25 m Depth (molded): 18.50 m Gross Tonnage: 34,094 Deadweight: 60,388 metric tons Main Engine: MITSUI-MAN B&W 6S50ME-B9.3 Diesel Engine x1set Service Speed: abt. 14.5 knots Complement: 24 persons Classification Society: NK Flag: Republic of Malta Date of Delivery: October 25, 2017

Mitsui Engineering & Shipbuilding Co., Ltd. (MES) completed and delivered a 60,000 dwt type bulk carrier M.V. "Cyclades" (MES Hull No. 1958) at its Tamano Works on August 17th, 2017 to Eastern Mediterranean Maritime Limited, Hellenic Republic.   This is the 25th ship of the "neo60BC”, the third Eco-Ship line up of our “neo series”.   Principal Particulars Length overall - 199.99 m Breadth (molded) - 32.25 m Depth (molded)  - 18.50 m Gross Tonnage - 34,094 Deadweight - 60,384 metric tons Main Engine -  MITSUI-MAN B&W Diesel Engine 6S50ME-B9.3 x1set Service Speed -  abt. 14.5 knots Complement - 24 persons Classification Society - NK Flag -  Republic of Malta Date of Delivery - 17th August, 2017

Hellenic Republic Asset Development Fund (HRADF) asked for improved financial bids from short-listed investors seeking to buy a majority stake in its second-largest port, reports Reuters. Greece’s privatization agency (TAIPED) got three offers last month for the sale of a 67 percent stake in Thessaloniki Port, which is required as part of Greece’s international bailout. The investors are Philippines-based International Container Terminal Services (ICTS), Dubai-based P&O Steam Navigation Company (DP World) and German private equity firm Deutsche Invest Equity Partners, which is bidding jointly with France’s Terminal Link SAS. The preferred…

The Competition Commission approved the sale of a majority stake in Piraeus Port (OLP) to China’s COSCO during its meeting on Wednesday, saying it is in line with Greek competition laws. According to Greek national news agency AMNA, the next and final step for the changing of hands at Piraeus port is for the concession agreement to be submitted to parliament for approval. “Having taken into account the conditions and prospects of the relevant market, the improvements in its efficiency and the commitments given, concluded that the concentration does not raise serious doubts as to the compatibility of the deal with the performance requirements of competition in the individual markets it concerns,” the Commission said in its decision.

The Greek privatization fund TAIPED formally accepted the binding bid submitted by Cosco Pacific for the majority stake in Piraeus Port Authority (OLP), while the port company’s stock posted a significant increase on the Athens bourse in response to the Council of State’s rejection of various objections to OLP’s privatization. The renewed and better offer by Cosco for the 67% of OLP has reached 368.5 million euros. TAIPED announced that the sell-off agreement will now be forwarded for approval to the State Audit Council, after which the contract for the sale of the 67 percent stake in OLP to the Hong Kong-listed company will be signed.

The state privatization fund Hellenic Republic Asset Development Fund (HRADF) of Greece has accepted a “significantly improved” offer from China’s Cosco Group for the state’s majority stake in the Piraeus Port Authority (OLP). “HRADF’s board of directors accepted the improved offer made by COSCO Group (Hong Kong) Ltd in the context of the tender for the sale of the 67 percent of Piraeus Port Authority (PPA) shares,” an HRADF statement said. The Chinese group submitted on Wednesday an improved binding offer of 22 euros (US$24) per share which amounts to 368.5 million euros  (US$401m) for the controlling 67 percent stake in PPA, according to HRADF’s announcement.

Cosco Pacific is expected to submit an improved bid for the controlling stake in Piraeus Port Authority (OLP) on Wednesday that is set to be discussed at the board meeting of the Hellenic Republic Asset Development Fund (TAIPED), reports Kathimerini. Cosco was the sole bidder for a 67 percent stake OLP, the manager of the country's biggest port which is a gateway to Asia, eastern Europe and north Africa. The agency has asked Cosco to improve its offer. Reliable sources say that the new Cosco offer will be "realistically good" and will likely exceed both valuations that the two independent consultants had made for the TAIPED privatization fund.

China's state-owned shipper China Ocean Shipping (Group), also known as Cosco Group and owned by China COSCO Holdings,  is on track to acquire Greece's largest container port, gaining a key foothold to expand China's economic and military presence in Europe and Africa under the "One Belt, One Road" trade route initiative. There were no other bidders, which suggests that China’s strategic aims of using the Greek port of Piraeus as getaway to Europe is one step closer to realization. Greece's privatization agency board said that Cosco was the only confirmed bidder for a binding stake in the country's biggest harbour. It had asked Cosco for an improved financial offer which Cosco would consider during the next week.

As the pushed back the date - the Dec. 21 deadline - for the submission of binding bids for the sale of its biggest port Piraeus (OLP) approaches, the pace is picking up with binding bids, reports WSJ. Three of the world’s biggest port operators expected to submit their binding bids next week. Greece’s leftist government had pushed the move back for a year, upsetting potential investors and ​the country’s international creditors. The deadline has been postponed three times since Oct.

Greece Economy Minister George Stathakis said that his government is dropping its opposition to selling off the Piraeus Port Authority SA. A sale of the Piraeus Port would be a reversal on the part of Greece’s Syriza party-led government, which had earlier pledged to block such moves. The country's leftist government had ruled out any privatization plans when it came into power but it later started pondering the revision of the sale terms and now has have given the green light for the sale of a majority stake in Piraeus port . Greek government spokesman Gavriil Sakellaridis said that final decisions on the privatization plan were linked to ongoing negotiations with international lenders on a new deal regarding the resolution of the Greek debt crisis.

Greece will proceed with the sale of stakes in strategic assets such as the port of Piraeus, says a report in Bloomberg. The Hellenic Republic Asset Development Fund, which sells real estate, infrastructure and other government holdings, is sending a revised tender offer to investors, including China Cosco Holding Co, to solicit bids for a stake in the Piraeus Port Authority SA. Under the new terms of the port tender, investors will be invited to purchase a 51 percent stake in the manager of Greece’s largest port, instead of a 67 percent stake previously offered, and won’t be offered the management of services for ferries, which was part of the original tender submitted to investors last year, sources said. They expect to close the sale before the end of the year, they added.

A new agreement governing the delegation of authority for statutory surveys of ships flying the Greek flag and shipping companies was signed between the Ministry of Shipping, Maritime Affairs and the Aegean (Maritime Administration) of the Hellenic Republic and Russian Maritime Register of Shipping (RS). The new agreement superseded the previous one of 2009. The additions and amendments to the text of the new agreement are mainly related to the provisions of the national legislation of Greece and expanding the RS authority, particularly in respect of special-purpose ships, passenger coastal ships, fishing vessels coming under the EU Directive 97/70/EC…

ERMA FIRST S.A. is amongst the few companies that have already received the acceptance letter from USCG. ERMA FIRST BWTS received its AMS Acceptance letter on October 11. The ERMA FIRST BWTS is compatible with global legislations and conventions, international requirements and restrictions. AMS approval is one more reward and ascertainment that ERMA FIRST BWTS has completed with success all technical challenges. AMS approval has been given to ERMA FIRST S.A. for its following models: BWTS 50…

The U.S. Customs and Border Protection (CBP) said that the Hellenic Republic has signed declaration of principles to participate in the Container Security Initiative (CSI). Greece thus becomes the 18th nation to join this cooperative maritime security program, which is now operational in 19 seaports worldwide. (HK Law).

The fourth "Parallel Event" to celebrate World Maritime Day formally and officially outside of the International Maritime Organization's London base was held in Greece on 19 and 20 September, hosted by the Government of the Hellenic Republic. On 19 September, Athens was the location for a seminar and panel discussion on the theme of IMO: 60 years in the service of shipping, in which leading figures from the maritime community took the opportunity to outline, from their perspective, their views on the past, present and future of IMO and the shipping industry. On 20 September, the International Memorial to the Wife of the Seafarer was unveiled in the town of Galaxidi, by the Secretary-General of IMO, Mr. Efthimios E.