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Piraeus port container volumes continue to grow in 2019

Piraeus port handled 5.65m teu in 2019, cementing its position as a major container port in the Mediterranean and Europe

Further, latest data from the PPA, reveals that though we are in the grip of the COVID-19 pandemic the number of containers being handled in Piraeus is holding up. In April a decline of 3.3% was registered at Cosco Shipping’s concession terminals II and III and they moved 392,900 teu compared with 406,100 teu in April 2019. 

An encouraging figure is that April's fall is well below March, when the movement decline 15.4% year-on-year. However, the March and April figures reversed those of January and February months when the container traffic increased 4.8% year-on-year.

Still, Piraeus’ performance stands well when compared to Cosco Shipping Ports Limited global performance. For the month of April Cosco Shipping Ports Limited recorded a decrease of 5.3% and for the four-month period a 5.6% decline was recorded year-on-year.

In 2019 terminals II and III handled 5.16m teu, a rise by 17%. If terminal I, controlled by the Piraeus Port Authority, which is managed by Cosco, is added in the total number for 2019 rises by 490,000 teu to 5.65m teu.

OLP presented its financial figures for last year to the Hellenic Fund and Asset Management Association on Tuesday in a teleconference with the participation of The authority’s ceo, Fu Chengqiu, told the teleconference  the PPA’s 2019  turnover rose 12.3% year-on-year to EUR149.2m ($167.1m), while operating profits before tax grew 12.5% to EUR47.6m and net earnings increased 27% to EUR35.4m.

“2019 was the most successful year in terms of profitability. The successful financial management also brings additional revenue to the Greek state due to increased concession fees, dividends, insurance contributions etc and contributes to the welfare of the local communities,” Fu said.

Greece stands to collect EUR5.4m in concession fees for 2019, up from EUR4.8m for 2018.

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