Lloyd's Register Updates East Mediterranean Projects on Alternative Fuels
Three European Commission co-funded initiatives – Poseidon Med II, CYnergy and Elemed – are driving forward the uptake of alternative fuels in the Eastern Mediterranean region.Poseidon Med II: Creating a comprehensive and sustainable supply chain for LNG bunkeringThe Poseidon Med II project is a practical roadmap that aims to promote wide adoption of LNG as a safe, environmentally efficient and viable alternative fuel for shipping and help the East Mediterranean marine transportation propel towards a low carbon future.The project…
Ports of Rotterdam, Le Havre, Piraeus Renew Environmental Standard
The European Sea Ports Organisation (ESPO) congratulates Port of Rotterdam (Netherlands), Port of Le Havre (France) and Port of Piraeus (Greece) for renewing EcoPorts’ environmental management standard (PERS). Isabelle Ryckbost, ESPO’s Secretary General, Eamonn O’Reilly, ESPO’s Chairman, and Sotiris Raptis, EcoPorts coordinator, handed over the PERS certificates to the ports’ representatives during the annual ESPO Conference in Rotterdam. “I would like to congratulate the three ports for obtaining once more the environmental standard of EcoPorts (PERS).
EU Suspects Tax Fraud at China's New Gateway to Europe
European Union and Italian authorities are investigating suspected wide-scale tax fraud by Chinese criminal gangs importing goods via Greece’s largest port of Piraeus, a trade gateway between China and Europe, officials said.“The VAT is completely evaded, with enormous damage to the national tax authorities and to the community,” Fabio Botto, of the Italian Central Anti-fraud Office’s special investigative unit, said in an interview.He said the suspected scam at Piraeus, part of China’s vast Belt and Road infrastructure project…
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…
PPA Presents Proposals for Piraeus Port Master Plan
The Piraeus Port Authority (PPA) has presented its proposals for the master plan for the development of Greece's largest port of Piraeus under “Master Plan of the Port of Piraeus". The compilation of the Master Plan for the development and operation of the Piraeus Port was made according to: (i) all the Laws and regulations of general implementation, together with all the existing applicable regulatory rules, (ii) the methodology and specifications quoted in the “Specifications of Master Plan” document…
Fuel Tanker Sinks off Piraeus
Product tanker Agia Zoni II reported water ingress, sinking, in the early hours of Sunday in Saronikos Gulf, south of Athens at anchorage west of Piraeus, with some 2500 tons of fuel on board, and two crew. The local media reports that Aghia Zoni II took on water while it was anchored and sank at 2.45 a.m., after sailing from the Aspropyrgos distilleries in the early hours of Saturday carrying 2,200 metric tons of fuel oil and 370 metric tons of marine gas oil. It is not yet known what caused the sinking.
Can Greece Become Global Maritime Capital ?
The Greek shipping community is confident that Greece can be a maritime center in near term, said a research report. A study -‘repositioning Greece as a global maritime capital' - conducted by Ernest & Young in cooperation with Aegean University professor Thanos Pallis said that Greece, especially the port of Piraeus, is viewed as future competitors of Asia’s aggressive shipping hubs in the coming decade. The study gauging the views and forecasts of 779 Greek shipping executives revealed that the most attractive and comprehensive framework among shipping hubs or “clusters” today is Piraeus…
Piraeus Port Signs MoU with Shanghai Port
The Cosco-managed Piraeus Port Authority (OLP) and Shanghai International Port Group, the world's biggest commercial port, signed a Memorandum of Understanding (MOU) envisioning cooperation in infrastructure studies, personnel training, information exchange and technical assistance. The MOU was signed by Athanasios Liagkos Executive Management Consultant & BoD member of the PPA SA and the Chairman of Shanghai International Port Group, Chen Xuyuan. This development further highlights Piraeus's strategic position on the world map and especially on the New Silk road.
COSCO Eyes Doubling of Piraeus Cruise Traffic
China's biggest shipping company, COSCO Shipping, is aiming to more than double the number of cruise passengers using Greece's biggest port in Piraeus, in coming years, the chairman of the group, Xu Lirong said on Monday. "The movement of cruise passengers is around 1.1 million a year at present. Our short term goal is to increase it up to 1.5 million, and 3 million in the longer term," Xu said at a ceremony at Piraeus launching new docking space for cruise ships. COSCO Shipping…
COSCO Sees Piraeus in Top Thirty by 2018
COSCO Shipping, plans to ramp up container volume at Greece’s biggest port in Piraeus by 35 percent by 2018, the port’s new managing director, Fu Cheng Qiu, said, reports Reuters. China's biggest shipping company, which owns the world's fourth-largest container shipping fleet, bought 51 percent of the port's operating company last month for 280.5 million euros ($315.5 million), one of Greece's biggest and most strategic privatizations since a debt crisis began in 2009. COSCO wants…
Container Traffic Grows in Piraeus
Consolidating the port of Piraeus' position as the main pillar of the Chinese group Cosco’s overseas activity, its container traffic continues to break one record after another, reports Kathimerini. The two terminals operated by Cosco handled a total of 329,600 containers in August, up 32.3 percent from the same month in 2015. In August last year the negative impact of the strict capital controls had started to become clear and total traffic reached just 249,100 containers. Records have been broken each month this summer, with 314,000 in June and 323,300 in July.
Just One Bid for Greece Rail Project
Greece has received only one bid to build and run a new rail freight terminal outside Athens, a project it has been trying to get underway for years, the country's transport ministry said on Tuesday. The bid is from ETBA, a unit of Greece's Piraeus Bank which develops and manages industrial parks, in collaboration with Goldair, a domestic firm offering cargo and logistics services, the ministry said. The selected investor will build and operate the terminal at Thriasio for 60 years under a 250 million-euro ($280 million) investment plan which will create a new rail freight transport hub linking up with Greece's largest port of Piraeus.
COSCO not seen bidding for Greek Rail Centre
Greece is still struggling to find investors for a rail freight hub that it has been trying to set up since 2008, sources close to the process said on Monday. China's COSCO had been expected to team up with other investors after the Greek government launched a new tender for the 250 million euro ($280 million) investment project last year, part of a bid to turn Greece to a European transhipment hub. Greece, which had to turn to its euro zone partners and the International Monetary Fund in 2010 for help in riding out a debt crisis, is still struggling to revive its economy. The selected investor will have to build a terminal with access to the national railway network and Greece's largest port in Piraeus and operate it for 60 years.
Greece Pin Great Hopes on COSCO-Piraeus Port
Greece’s deal with Chinese shipping giant COSCO is “helping the country stand on its feet,” Greek Prime Minister Alexis Tsipras said. “We are sending a strong message to the international markets that Greece is decisively entering a new phase,” Tsipras said. According to a report in Xinhua, China and Greece have great hopes for Piraeus port, as attested to by the meeting of Chinese Premier Li Keqiang and his Greek counterpart Alexis Tsipras on Monday. Li met with Tsipras in Beijing on Monday afternoon, with much of their meeting focused on Piraeus.
New Era of Global Trade with Expanded Panama Canal
The Expanded Panama Canal is now officially open for business. During the official inauguration ceremony, Panamanian President Juan Carlos Varela and Panama Canal Administrator and CEO Jorge L. Quijano spoke to a crowd of more than 25,000 jubilant Panamanians, Canal employees, heads of state and dignitaries from around the world, Canal customers, shipping and trade executives, and nearly 1,000 journalists. This is the first expansion of the waterway since its original construction. “More than 100 years ago, the Panama Canal connected two oceans.
The Historical Passage of Cosco Shipping Panama
The Chinese giant Cosco Shipping has made the inaugural transit on Sunday June 26, 2016 through the expanded Panama Canal expansion project , event appreciated by thousands of people in Agua Clara lock province of Colon. Spectators watch as the Neopanamax cargo ship, Cosco Shipping Panama, makes its way through the new Agua Clara locks, part of the Panama Canal expansion project, near the port city of Colon, Panama. The container vessel had set sail from the Greek Port of Piraeus today on its way to Panama to make history.
COSCO's Vessel Departs Greece for Inaugural Transit through Extended Panama
The container vessel COSCO Shipping Panama set sail from the Greek Port of Piraeus today on its way to Panama to make history. The Neopanamax vessel will make the inaugural transit of the Expanded Panama Canal on Sunday, June 26, after a 14-day journey. Panama Canal Administrator Jorge L. Quijano met with COSCO Shipping Panama’s Captain Jude Rodrigues and crew members prior to the ship’s departure. “I am very excited to be here today to witness the sailing of the ship from Greece, but also meet the Captain and his crew,” said Administrator Quijano.
Helengi Unveils LNG Bunkering Vessel
Greece's LNG engineering solutions provider, Helengi has revealed its LNG bunker feeder vessel Amaltheia during the recent Posidonia exhibition held in Athens. "A state of the art vessel is the result of years of intensive engineering studies and it is the first time that Greek companies undertake such a demanding and complex design on this special type of vessel. Both Helengi and NAP Engineering teams display extensive expertise in Marine Engineering and LNG marine applications with wide international experience in the sector," says a statement from the company.
MacGregor's Greek Service Center sees a Boom
MacGregor, part of Cargotec, continues to serve the busy Greek shipping industry from its new, larger premises at Akti Miaouli, which is in the heart of the Greek port of Piraeus. "We serve 1,500 Greek-owned vessels annually and handle over 4,000 customer requests for spare parts and services around the world," says Athena Kanellatou, Managing Director of MacGregor Greece. MacGregor has enjoyed a presence in the city for almost half of a century and mid February this year, after 20 years' in the same location, MacGregor moved its Piraeus office to be even closer to its customers.
COSCO in Talks to Bid for Athens Freight Terminal
Chinese shipping conglomerate COSCO is in advanced talks with Greek real estate developer Grivalia and logistics provider PAEGAE, about jointly bidding to build and operate a rail freight terminal near Athens, a Greek newspaper reported. Greece has launched a tender for the 250 million euro ($283 mln) project to build the terminal at Thriasio near Athens, which would have access to the country's railway network and its biggest port at Piraeus. COSCO's shipping unit China COSCO Shipping last week signed a deal to buy a 67 percent stake in Piraeus Port , a move which fits with the group's plan to build a European transhipment hub. PAEGAE is owned by National Bank, Greece's second-biggest lender.
China's Acquisition of Piraeus Port a Booster for Greek Economy?
Greece has formally signed an agreement to sell a 67% stake in the Port of Piraeus to Chinese shipping company China Cosco Holding Co. Under the deal, COSCO, the fourth-largest container shipping firm and second-largest port operator in the world, will pay the cash-strapped country 368.5 million euros (418.8 million U.S. dollars), and also promises to invest another 350 million euros (398.9 million dollars) over the next decade in infrastructure work at the port. In five years of operation…
Migrant Arrivals to Greece Rise Sharply
Arrivals of refugees and migrants to Greece from Turkey rose sharply on Wednesday, just over a week since the European Union and Turkey struck a deal intended to cut off the flow. Greek authorities recorded 766 new arrivals between Tuesday morning and Wednesday morning, up from 192 the previous day. Most arrived on the northeastern Aegean island of Lesbos. Italy reported an even larger jump in arrivals on Tuesday, when officials there said 1,350 people - mostly from Africa - were rescued from small boats taking the longer migration route over the Mediterranean as the weather warmed up. The EU Commission said on Tuesday that the flows in the last week had reduced…
Cosco Pacific among Others to Bid for Greek Rail
Tender for the Greek rail service company Trainose, steams ahead with three potential suitors, say local media. Besides Hong Kong-listed Cosco Pacific, which is certain to participate, the tender has seen the return of Russian Railways, while there is interest from Italy’s Trenitalia for the first time. Cosco Pacific is being hotly tipped to clinch the bid for Greece’s state-owned rail operator just weeks after winning control of the nation’s largest port of Piraeus, a top Mediterranean container hub.