Limassol Port News

Cruise ships heading to Israel have been diverted to Cyprus, while additional flights were arranged on Monday to repatriate Israelis or assist people wanting to leave Israel, aviation and shipping officials said.A cruise ship docked at Limassol port on Sunday, while a second on Monday, Port Manager Panayiotis Agathocleous told Cyprus's Ant1 TV station. A third was expected during the week, he said."We are ready to offer all assistance," Agathocleous said.Aviation officials said 11 extra inbound and outbound flights to Israel were arranged on Monday.

ABB Turbocharging and Multimarine Services Ltd (MMS) have agreed an ABB Turbocharging Service Point will open at the MMS shipyard facility at Limassol Port, Cyprus.The deal, signed this week during the Posidonia exhibition in Athens, confirms the creation of the first turbocharging service point in Limassol to be located at a shipyard, after proactive discussions between ABB Turbocharging Greece & Cyprus and MMS to relocate ABB’s local service facilities. The relocation will support a closer physical pick up point for marine customers, providing convenience and faster access to customized servicing for optimal uptime and fleet productivity.“This is a positive agreement for ABB Turbocharging and will enable us to better serve our customers by offering reliable…

The new cruise passenger terminal at DP World Limassol was inaugurated today by Cyprus President, His Excellency Mr. Nicos Anastasiades; Minister of Transport, Communications and Works, Mrs. Vassiliki Anastassiadou; the Mayor of Limassol, Nicos Nicolaides and DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem. The operational opening of the terminal was attended by almost 300 guests and will enable the largest cruise ships in the world to visit the country for the first time. It provides world-class facilities and services for passengers and features seven pods with a total floor area of 8,205 m2. The terminal is designed to facilitate both Transit (day call) and Turnaround (home porting) services.

DP World, one of the world's largest port operators, reported a 50 percent leap in net profit for the first half of this year on Thursday, helped by the acquisitions of the Dubai's Jebel Ali Free Zone and Canada's Fairview Terminal. The company made a profit attributable to shareholders of $608 million in the six months to June 30, compared to a profit of $405 million in the corresponding period last year. EFG Hermes had forecast the company would make a quarterly profit of $432.9 million. DP World's revenue for the first half was $2.09 billion, up from $1.90 billion a year earlier. In July, the company said consolidated throughput for the period was 14.6 million TEUs (twenty-foot equivalent units), down 1.4 percent from a year earlier on a like-for-like basis.

DP World, one of the world's biggest port operators, and the Cypriot logistics and services company GAP Vassilopoulos Public have won two concessions to manage commercial activities at Limassol Port in Cyprus starting in January. P&O Maritime Cyprus, a unit of DP World, won a 15-year concession to exclusively provide port marine services at Limassol. DP World will own 75 per cent of each joint venture, with its Cypriot partner owning the rest. Three contracts on the privatisation of Limassol port services were signed today at the Presidential Palace, marking ‘a new page for Cyprus’ great port’ according to Minister of Transportation Marios Demetriades.

DP World has been awarded a 25-year concession by the Cypriot government for the exclusive rights to operate Limassol port, the Dubai-based ports operator said on Monday.   Separately, it said that P&O Maritime Cyprus, a wholly-owned subsidiary of DP World, had been awarded a 15-year concession for exclusive provision of a range of port marine services, including tugs and pilotage at the port.   DP World said the concessions were granted in partnership with Cypriot company GAP Vassilopoulos Public, with the Dubai-based company owning 75 percent of the venture.   The start of the concessions is envisaged for Jan. 29 next year, the statement added. (Reporting by Tom Arnold)

The Cyprus government managed to push through parliament legislation finalizing the privatization of commercial operations at the island's primary Limassol port despite lacking a majority in parliament, reports Famagusta Gazette. 27 deputies voted in favor of regulations detailing the privatization and 20 voted against during a stormy session of the 56-member chamber. Strong opposition by socialist and left wing parties, fanned by an electoral campaign for parliamentary elections in May, had threatened the deals between the government and three international consortium which had obtained the concessions at the port. The Cyprus Transport…

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…

After acquiring control of Greece's Piraeus Port Authority SA, China Ocean Shipping (Group) Company (COSCO), is now bidding to run the port of Limassol on the island of Cyprus, in a bid to extend its reach in the Mediterranean Sea. A total of 14 companies have submitted bids for the commercialisation of Limassol port, the Cypriot Ministry of Transport, Communications and Works announced. Among the bids, six submissions were received for the container terminal, three for the marine services and five for the multipurpose terminal. “The commercialisation project now enters its next phase of detailed review and evaluation of the submissions which is expected to last a few weeks,” the Ministry said.

The government of Cyprus has changed the legal framework of the Cyprus Ports Authority (CPA), which will allow commercial operations at Limassol port to be privatised. The Cyprus  Ministry of Transport will call for tenders by the end of this week to attract investors for the use of Limassol Port`s commercial activities, announced Minister Marios Demetriades on Monday, who said the aim is to significantly expand port operations and transform Cyprus into a transit hub for port services. Demetriades said he's confident interest will be shown because of the island's close proximity to the Suez Canal, one of the world's busiest shipping traffic routes.

Cyprus is pushing ahead with the privatisation of its ports as part of the nation’s rehabilitation plans which will see a number of state-run entities turned over to the private sector. The Council of Ministers approved amendments to the legal framework governing the operation of the Cyprus Ports Authority. The legislative plan is now set to be handed to parliament where MPs will be tasked with reviewing the bill at committee level before passing it through for a vote. The plan reportedly outlines that the overall operations of the ports should be take on by a private company although the actual bricks and mortar of ports will still be under the umbrella of the Cyprus Ports Authority.

Privatization of Limassol Port, a port of multiple uses, is the main port of Cyprus, will be officially launched by the end of April with a call for expression of interest, says the Minister of Communications and Works Marios Demetriades. The project team is examining the possibility of attracting more than one investor, he said. Prior to the privatization of Cyprus' commercial hub, the Ministry will proceed with a revision of the Cyprus ports' charges in line with international practices. Marios also assured that the rights of employees at Limassol port will be safeguarded. A privatizations progam, part of Cyprus Euro10 billion economic adjustment program…