Port Of Greece News

Greece is likely to cancel the sale of its northern port of Alexandroupolis, mainly due to the port’s upgraded role following the war in Ukraine, two sources with knowledge of the matter told Reuters on Monday.Greece in September received two binding bids for a 67% stake in the port of Alexandroupolis.The bidders were Quintana Infrastructure and Development through Liberty Port Holdings Single Member, and International Port Investments Alexandroupolis, a joint venture of Black Summit Financial Group, Euroports, EFA Group and GEK Terna.(Reuters - Reporting by Angeliki Koutantou and Lefteris Pap

DNV and Saronic Ferries signed a memorandum of understanding (MOU) designed to enable the development of an electric ferry for local deployment in Greece. The collaboration is targeted toward a fully electric concept for deployment on short-sea passenger routes in the Argosaronikos area. The MoU was signed at the Posidonia 2022 trade fair."The use of all-electric or hybrid vessels in the short sea ferry segment has surged in recent years as the benefits of the technology has been demonstrated in pilots and full-scale deployments.

Greece on Monday launched a tender for the sale of a majority stake in a port on the island of Crete, a popular tourist destination in Europe.The conservative government has been keen to attract investment and upgrade its port facilities across the country after years of underspending and a decade-long financial crisis.Investors can submit expressions of interest for a 67% stake in the port of Heraklion, the busiest on Crete, by July 30, the country's privatization agency, which is managing the sale…

Greece has received five non-binding bids to operate part of a port in northern city of Kavala, the country's privatization agency (HRADF) said on Friday.HRADF received expressions of interest for a sub-concession to operate a multipurpose terminal of Philippos II port, currently operated by Kavala Port Authority.The initial bidders are a consortium of IMERYS SA, Goldair Cargo and I.M.G., and the International Port Investments Kavala consortium, which includes Black Summit Financial Group, EFA Group and GEK TERNA.

OceanRail Logistics, part of the Cosco Shipping Group, acquired 60% of the Greek railway company Piraeus Europe Asia Rail Logistics (PEARL) as part of its plan to develop its intermodal transport services network.OceanRail specializes in sea-rail intermodal transport with the Piraeus Port as the hub and related logistics business, while PEARL is a Greece-based company engaged in railway operations.The China-Europe Land-Sea Express Line, which starts from the Piraeus Port in Greece and expands to the hinterland of Central and Eastern Europe, covering North Macedonia, Serbia, Hungary, Austria, Czech Republic and Slovakia, is the third new trade corridor from the Far East to Europe and effectively connects the 21st Century Maritime Silk Road and the Silk Road Economic Belt.In 2019…

Greece's Piraeus Port Authority (PPA) announced that the "PIRAEUS I" floating dock is available again for ship repair works."PIRAEUS I floating dock has been delivered for use and is operating again after scheduled maintenance works," said an announcement from PPA.PIRAEUS I is 202 m. long, with inner width 31 meters, has lifting capacity of 15,000 tons and can serve ships with capacity of 40,000 tons.During the first nine months of 2019, the ship repair activity at the port of Piraeus is showing an increase, despite the temporary suspension of PIRAEUS I floating dock operations, as the ships in docks increased by + 11% and the ships under repair in Ship Repair Zone increased by 7.4% compared to the same period of 2018.The Management of PPA S.A.

The Greek port of Piraeus signed a memorandum of understanding (MoU) with Italy’s port authorities from the cities of Venice and Chioggia.The agreement seeks to develop port services and promote increased trade flow between Europe, the Mediterranean and the Far East.The MoU was signed during a meeting between the chairman and CEO of Piraeus port Fu Chengqiu and the president of the Northern Adriatic Sea Port Authority (Venice and Chioggia) Pino Musolino.The MoU envisages cooperation in improving the exchange of best practices and knowhow in port management, particularly in IT, attracting investments and communications."The common target is to improve the performance of the two ports…

Piraeus Port Authority (PPA) SA and the Huawei Technologies SA are pleased to announce the contract conclusion for the modernization of the PPA network infrastructure. Huawei Technologies SA, after an international open tender, undertook the project of redesigning and replacement of the PPA's network infrastructure. More specifically, Huawei Greece, using optimal international practices and utilizing the latest technology products and solutions of the Group, will replace the existing network infrastructure of PPA, aiming to satisfy the requirements of the biggest port of Greece. PPA SA, by modernizing its network infrastructure, will enjoy network services of guaranteed availability…

Greece received three improved binding financial bids for a majority stake in Thessaloniki Port , its second-largest, the country's privatisation agency (HRADF) said on Friday. Last month HRADF got three bids for a 67 percent stake in Thessaloniki Port. The bids were submitted by 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, jointly with France's Terminal Link SAS. After unsealing the financial offers this month, HRADF asked the suitors to improve them by April 21. The improved offers will be unsealed at a board meeting on April 24, HRADF said. The current market value of the stake on sale is 138.8 million euros.

Greece's privatisation agency (HRADF) asked on Friday for improved financial bids from shortlisted investors seeking to buy a majority stake in its second-largest port. Athens got last month three offers for the sale of a 67 percent stake in Thessaloniki Port, which is required as part of its 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. (Reporting by Angeliki Koutantou)

Greece has given investors until March 24 to submit binding bids for a majority stake in its second biggest port, Thessaloniki Port, two sources close to the matter said on Tuesday. The sale of the 67 percent stake in the port and other privatisations are a key part of the country's current EU/IMF international bailout deal, the third since 2010. But the programme has fallen behind schedule due to political resistance and red tape, and has raised only 4 billion euros ($4.3 billion) so far versus an original target of 50 billion euros.

Algeciras Bay Port Authority in southern Spain has put up a tender for its third container terminal, and China's Cosco Shipping Ports is already being mentioned as a fore runner candidate, says a report by Caixin. According to port authority, Algeciras is Spain's biggest container port and oil importing dock, and handled 2.3 million 20-foot containers in the first half the year – a 13 percent year on year increase. Cosco Shipping Ports  Ltd., the port operating arm of state-owned China COSCO Shipping Corp., is the world's fourth-largest container operator by capacity. Its recent overseas shopping spree includes buying two-thirds of Piraeus…

Greece is considered to be the world’s first ship-owning country in terms of tonnage. The Greeks are known to control 17.7% of world fleet and gaining share except in crude tankers. Even recession in the dry bulk market has not had much effect on the Greek-owned fleet with the fleet size touching 5,226 vessels last year with a total DWT of 334 million. For debt-laden Greece, shipping – a key element of Greek economic activity since ancient times – is considered a knight in shining armor at this crucial juncture. Most Greek shipping companies are family owned businesses which have been in shipping for many decades, even over a hundred years.

Greece named China's Cosco as the preferred investor for the acquisition of a 67-percent stake in the country's biggest port, Piraeus , its privatisation agency (HRADF) said on Wednesday. Greece last month named Cosco as the highest bidder for the stake and asked the company to submit the necessary documents to name it a winner. "During its session today, the board of directors of HRADF unanimously declared Cosco Hong Kong Group Limited as the preferred investor," HRADF said in a statement. The tender dossier will now be submitted to a Greek court of auditors, it said. An approval by the auditors and other authorities is necessary for the deal to be signed. Reporting by Angeliki Koutantou

Greece expects binding bids to be submitted later on Monday for a majority stake in Piraeus Port Authority, operator of its biggest port, but will not announce the prospective buyers before early next month, two sources at the country's privatisation agency (HRADF) said on Monday. The leftist government of Alexis Tsipras had halted the sale after winning elections in January but resumed the process under the 86 billion-euro bailout deal it agreed with its euro zone partners in the summer. The deadline for final bids ends at 1700 GMT on Monday. A senior HRADF official said the bidders will not be announced before early January when foreign observers on the agency's board and experts attend the opening of the offers. "Everyone should be present when the offers are opened," the official said.

Greece has pushed back the date for the submission of binding bids for the sale of its biggest port Piraeus (OLP) by two weeks to Dec. 15 upon investor request, the head of its privatization agency said on Thursday.   China's Cosco Group, Danish container terminal operator APM Terminals and Philippines-based International Container Terminal Services were to submit bids on Dec. 3 for a 51 percent stake in OLP.   "Investors have asked for a two-week extension... to have enough time to check (the company's) financial data", the head the privatization agency, Stergios Pitsiorlas, told Reuters. (Reporting by Angeliki Koutantou)

Philippines head quartered International Container Terminal Services Inc. has expressed interest in a majority stake in Piraeus port in Greece, says a report in AFP. “Yes. We are now reviewing this opportunity,” ICTSI vice president and treasurer Rafael Consing Jr. said in a text message. Greece unblocked the sale of a 51 per cent stake in Piraeus port and has invited three short listed investors to submit binding bids by September. Chinese conglomerate COSCO and the Dutch company APM Terminals have also expressed interest on the privatization of Piraeus port and have until September to submit their offer. The Greek government is selling a 51-percent stake in the Piraeus port, the largest port in Greece, lower than the 67 percent stake it earlier offered.

Greece is in advanced discussions with China's Cosco to boost their cooperation in the country's biggest port Piraeus, the Greek defence minister said on Friday. Cosco, which currently manages two container piers at Piraeus Port, is also interested in acquiring a majority stake. Athens has put the port up for sale. "We are in very advanced talks to expand this cooperation very soon in relation with the inclusion of a railway network as well," Defence Minister Panos Kammenos told an economic conference in Athens. Kammenos is the leader of the junior partner in the country's leftist-led government. Greece unblocked the sale of a 51 percent stake in Piraeus port and has invited Cosco and two other shortlisted investors to submit binding bids by September.

Greece's government said on Wednesday it was sticking to plans to halt the sale of its two biggest ports, Piraeus and Thessaloniki, rebuffing reports it was having second thoughts. Prime Minister Alexis Tsipras's new leftist government has sought to cancel key terms of Athens' bailout programme from international lenders, including what it calls the "crime" of selling off strategic national assets. "We are not discussing any further sale or privatisation of Piraeus Port or Thessaloniki port," government spokesman Gabriel Sakellaridis told Greek television. China's Cosco manages two of Piraeus port's cargo piers and had been shortlisted along with another four suitors as potential buyers of a 67 percent stake in the port under last year's privatization scheme.

Greece has asked three firms to submit binding bids by September for a majority stake in the country's biggest port, Piraeus, a senior privatisation official told Reuters on Thursday, unblocking a major asset sale. Greece had shorlisted China's Cosco Group and four other groups for a 67 percent stake in Piraeus Port last year but the sale was halted after Prime Minister Alexis Tsipras's leftist government came to power this year. Pressing ahead on the sale is expected to be one of the major concessions offered by Tsipras to EU and IMF lenders during ongoing talks to secure aid. Athens late on Wednesday wrote to investors with an amended invitation to bid for 51 percent rather than the previous 67 percent stake, the official said.

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.

Aegean Marine Petroleum Network Inc. ANW announced financial and operating results for the first quarter ended March 31, 2009. •    Increased sales volumes by 23.6% to 1,310,037 metric tons in Q1 2009, compared to 1,060,134 metric tons for Q1 2008. •    Expanded net revenues to $40.0 million. •    Recorded operating income of $8.3 million. •    Reported net income of $4.4 million, or $0.10 basic and diluted earnings per share. o    Expanded Greek operations to the market of Patras. o    Acquired or took delivery of five double-hull bunkering tankers, including two newbuildings. •    Secured a new senior secured revolving credit facility for a period of two years. •    Entered into strategic alliance with Gulf Oil for the marketing and distribution of marine lubricants.

China's leading global provider of telecommunications equipment and network solutions ZTE and  shipping conglomerate COSCO have signed an agreement allowing Greece's Piraeus Container Terminal (PCT) as a European logistics center for ZTE products for the wider Southern European region, reports Xinhua. Under the terms of the deal, from now on ZTE's deliveries in 12 major South-Eastern European markets will be routed via PCT, the largest port of Greece run by COSCO under a 35-year concession agreement. These markets are Croatia, Czech Republic, Slovakia, Slovenia, Austria, Hungary, Bulgaria, Romania, Italy, Spain, Portugal and Cyprus.