Piraeus Container Terminal News

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.

Hong Kong-based port operator COSCO Shipping Ports said that it 2017 profits have more than doubled from a year earlier, partly due to a one-off disposal gain and higher operating profits. The subsidiary and listed company of China COSCO owned by COSCO Group said that its profit  reached USD 512.4 million in 2017, representing an increase of 107.4 pct compared with 2016 when the profit stood at USD 247 million. The firm's full year revenue rose 14% to US$634.7 million. Benefitting from the economic recovery and with growth fueled by its acquisitions, the Group has achieved promising results for the year, with total throughput of 100,202,185 TEU. During the year, it completed the acquisition of a 51% equity interest in Noatum Port Holdings S.L.

Cosco Shipping Ports saw third quarter throughput rise 16.6% to 23.10m TEU from 19.81m TEU in the previous corresponding period. "Driven by the growth of international trade and the supports from shipping alliances and shipping fleets of parent company, the Group’s total throughput recorded satisfactory growth," said a company statement. For the nine months ended 30 September 2017, the Group’s total container throughput rose 13.5% to 64,885,641 TEU (corresponding period of 2016: 57,165,661 TEU). For the three months ended 30 September 2017, the Group’s subsidiaries handled 18.9% (3Q2016: 19.6%) of the Group’s total throughput with a total of 4…

Cosco has decided to transfer its containers to the port of Koper in Slovenia from Piraeus in order to deal with the Greek railway strikes. Cosco has got around the problem created for its freight forwarding network by Greek railway workers’ ongoing strike action by sending its containers by sea from Piraeus to Koper in Slovenia, from where they are loaded onto trains for the next part of their journey, reports Kathimerini. Since the tariffs for small feeder ships are currently at very low levels, the Chinese company will be able to bypass the central Greek railway axis without major losses in competitiveness. This alternative route is part of a plan created by Cosco’s subsidiary in Greece Piraeus Container Terminal (PCT) SA…

Although Cosco Pacific, the Hong Kong-listed subsidiary of China’s biggest shipping company China Cosc,  is expanding in the Mediterranean area after taking part in the acquisition of port in neighbouring Turkey, it faces stiff competition, reports SCMP. Cosco Pacific is investing in Turkish ports after forming a joint venture with China Merchants Holdings International (CMHI) and CIC Capital for the acquisition of equity interests in Fina Liman and Kumport. Its subsidiary Piraeus Container Terminal S.A., which operates Piers II and III at the Port of Piraeus, Greece’s largest port. According to data released the container handling at the two terminals have recorded a year-on-year decline in the second quarter and grew only 0.7 per cent in the first eight months…

An update on Greece’s port operations and local conditions was issued today by maritime services provider Inchcape Shipping Services (ISS). According to ISS, no operational delays have been reported in Piraeus container terminal operations since capital controls were enforced. The only vessel supply operation presently affected is delivery of Cash to Master for any vessel type. No Cruise issues or changes of itinerary have been reported because of capital controls. No incidents have occurred to date affecting port safety and/or security, ISS reports.

Kalmar, part of Cargotec, has signed a second repeat order for additional nine all-electric rubber-tyred gantry cranes (ERTGs) with Piraeus Container Terminal (PCT) S.A. in Greece, a wholly-owned subsidiary of COSCO Pacific Limited. The deliveries are scheduled for 2016. Kalmar's previous deliveries to the terminal consisted of 12 ERTGs in 2013 and nine ERTGs in 2015. This new order will further consolidate Kalmar's relationship with the customer who operates Kalmar ERTGs, straddle carriers, reachstackers, forklift trucks, empty container handlers and terminal tractors. The zero-emission cranes, which are 9+1 wide, will help the port achieve its goal of increasing capacity while meeting all the latest environmental demands.

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.

European Union state aid regulators have ordered Greece to recover certain illegal fiscal benefits granted to Piraeus Container Terminal (PCT) and its parent company Cosco Pacific Ltd, says a report in Reuters. The European Commission found that Greece inappropriately granted tax benefits to Piraeus Container Terminal (PTC) and its parent company Cosco. These include preferential accounting treatment. The money must be paid back to the Greek state. The Commission also said Greek authorities are expected to stop granting these advantages to PTC and Cosco from now on. "The companies now need to pay back the advantage received to the Greek state.

European Union state aid regulators have ordered Greece to recover certain illegal fiscal benefits granted to Piraeus Container Terminal (PCT) and its parent company Cosco Pacific Ltd. The European Commission said the measures, which breached EU rules, included tax exemptions and preferential accounting treatment. "The companies now need to pay back the advantage received to the Greek state. To avoid further distortions of competition, the Greek authorities are also expected to cease granting these advantages to PCT from now on," the Commission said. By Foo Yun Chee

Though the new Greece government has canceled the port of Piraeus’s privatization, Chinese group COSCO's interest in expanding its activity in the port remains strong. COSCO was the main suitor for the 67.7 percent stake in Piraeus Port Authority (OLP), which privatization fund TAIPED had planned to sell off. Denmark’s APM Terminals was also trying to get the contract. Chinese group COSCO has had a strong presence over the past five years in the Piraeus port. Its subsidiary Piraeus Container Terminal (PCT) manages Piers II and III at Greece's largest port of Piraeus since 2009 under a 35-year concession agreement. Greek officials reassured that…

Even though Greece's new left-wing government set alarm bells ringing in Beijing when it halted the privatization of the port this week, analysts say Athens is merely posturing, reports South China Morning Post. China will remain as "privileged partner for Greece". Cosco officials in Piraeus and China are playing down concerns over the new government’s plans for the port of Piraeus. When the new Greek Government led by Prime Minister Alexis Tsipras made halting the privatization of the Port of Piraeus one of its first initiatives, there were immediate concerns in China that it might take further actions that could impact the operations of Piraeus Container Terminal (PCT), which is operated under a 35-year concession by Cosco Pacific.

The Inauguration of the Expansion of Pier III of COSCO Piraeus Container Terminal(PCT) was held yesterday. Premier Li Keqiang of China sent a congratulatory message, which was read by Mr. Zou Xiaoli, Chinese Ambassador to Greece during the ceremony. Prime Minister Antonis Samaras of Greece attended the event and made congratulatory remarks. Executive Vice President Sun Jiakang of COSCO Group delivered a speech and cut the ribbon together with the Prime Minister and Ambassador. In his message, Premier Li Keqiang said that China and Greece are enjoying all-round and rapid development of bilateral relations. “Our political mutual trust is growing, and our practical cooperation is yielding new results. Our cooperation on the Piraeus port, in particular, has set a fine example.

Kalmar, part of Cargotec, has signed a repeat order for nine all-electric rubber-tyred gantry cranes (RTGs) with Piraeus Container Terminal (PCT) S.A. in Greece, a wholly-owned subsidiary of COSCO Pacific Limited. The cranes, four of which are the world's widest, will help the port meet its twin goals of increasing both capacity and savings. The deliveries are scheduled for 2015. This order further consolidates Kalmar's partnership with the terminal, as Mr Li Jianchun, Deputy General Manager of PCT, explains: "We currently operate Kalmar RTGs, straddle carriers, reachstackers, forklift trucks, empty container handlers and terminal tractors.

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.

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.

Kalmar, part of Cargotec, has signed a large order for twelve all-electric rubber tyred gantry cranes (RTGs) to Piraeus Container Terminal (PCT) SA in Greece. The cranes, scheduled for delivery in late 2013, will facilitate the port's continued expansion, with capacities planned to increase from 2.6 MTEU to 3.1 MTEU per year. The order has been booked into Cargotec's 2012 fourth quarter order intake. PCT, operating in Greece since 2009, is a wholly-owned subsidiary of COSCO Pacific Limited, a world-leading container terminal operator. This latest order further consolidates Kalmar's long term partnership with the terminal, as Mr. "We currently operate with Kalmar straddle carriers, reachstackers, forklift trucks, empty container handlers and terminal tractors.

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.