Maritime transport

The container terminal at Piraeus has climbed to second place among the Mediterranean's highest-ranking commercial ports at the end of 2018, just behind leader Valencia in Spain, which the Greek port is expected to overtake next year - as it did this year with Algeciras - according to the Lloyd's List Top 100 Global Ports.

A passenger ferry crashed on Monday afternoon into a high-speed passenger ship anchored at the shipbuilding zone in Perama, southwest Attica, due to a mechanical failure, port authorities said.

"Salaminomahos" was travelling from Paloukia, the main port of Salamina, to Perama, when it collided with WorldChampion Jet. No injuries were reported and passengers disembarked safely.

Defense Minister Panos Kammenos on Thursday called on wealthy Greeks to contribute financially for the purchase of new frigates for the Navy, by donating into a special bank account set to open next year.

He said the action is part of an effort in 2019 to boost the capacity of the Hellenic Navy, adding that the state will contribute.

Greek shipowners have invested more than $10.4 billion in vessel acquisitions in the year to date, according to shipbroker data.

Allied Shipbroking reports that the value of used ships acquired within 2018 has already reached $4.368 billion, while Golden Destiny said that the value of newbuilds ordered up until October amounted to $6.07 billion.

The wreckage of an Argentine navy submarine that exploded and disappeared a year ago was located in the Atlantic Ocean Friday, the navy said, crushing any remaining hope for relatives of the 44 crew.

The rapid development and the increasingly important role of the port of Piraeus, future investment plans of Piraeus Port Authority SA (OLP), increased interest in the city and the scope for deepening bilateral trade relations between Greece and China were the focus of talks during a visit by China's new ambassador to Greece, Zhang Qiyue, to the Piraeus Chamber of Commerce and Industry on Monda

A replica of "the ship of dreams" - also known as Titanic - will sail the high seas in the year 2022.

An announcement about the luxury Titanic II was first made in 2013, but work was suspended due to financial constraints. Now that those financial matters have been resolved, building has recommenced on the vessel, according to a media release from Blue Star Line.

This U.S. Navy photo obtained June 24 shows the guided-missile cruiser U.S.S. Antietam pulling alongside the Navy's forward-deployed aircraft carrier, U.S.S. Ronald Reagan during a fueling at sea on June 21 in the Philippine Sea.

A Chinese warship sailed within yards of an American destroyer -- forcing it to change course -- in an "unsafe and unprofessional" encounter as the US vessel was in contested waters in the South China Sea, an official said Oct. 1.

COSCO shipping lines, China's largest state-owned international and domestic container shipping and related services company, is opening its first branch in Sarajevo on Tuesday.