Port of Piraeus Profit Up by 92%
The Piraeus Port Authority S.A. (PPA) 2017 financial report revealed profits before tax amounted to €21.2 million ($26.19 mln) compared to €11.0 million ($13.59 mln) in the year 2016, showing an increase of 92 percent. Turnover amounted to €111.5 million compared to €103.5 million in the corresponding period of 2016, showing an increase of 7.7 percent. The operations at the container terminal showed significant increase in revenue by € 7million (53.1 percent), where container throughput increased by 70.6 percent, meaning 453.264 TEU compared to 265.716 TEU in 2016, while the income from the concession fee of the Pier II and Pier III increased approximately by €3.4 million (8.4 percent).
China’s Giant Huawei Invests in Greece’s Piraeus Port
Chinese technology and communication major Huawei has inaugurated a pilot distribution center at Piraeus port, which they say is another significant step to enhance co-operation between the two countries. The new distribution center is located at the premises of Chinese multinational shipping conglomerate Cosco's subsidiary Piraeus Container Terminal SA (PCT) and will enable Huawei to distribute its products to European markets through Greece. In 2012, Huawei’s turnover amounted to some US$ 35.4-billion, 66 percent of which came from sales outside China. In the first half of 2013 the group's revenue stood at 18.5 billion dollars, representing a 10.8-percent year-on-year increase.
China-Greece Port Collaboration Applauded
Greek President Karolos saw successful cooperation with COSCO in the Port of Piraeus as a pointer towards further bilateral collaboration. The Greek president voiced his thoughts during a visit to the Chinese company's Piraeus Container Terminal (PCT) in Athens reports China Daily. Papoulias expressed confidence that with COSCO's success and following Greek Prime Minister Antonis Samaras' official visit to China two weeks ago, more Chinese companies will come to invest in Greece. Citing statements to Greek news agency AMNA, China Daily reports that Greek Shipping Minister Costis Moussouroulis who accompanied the president on the visit, thought that the company's new investment projects verified the strategic position the port of Piraeus holds in the global sea transport system.
