Port of Piraeus

Cosco-owned Piraeus Port Authority SA (OLP) posted record-high turnover and profits in 2023, the company running Greece's biggest port said. 

Total revenues reached 219.8 million euros, up 12.9% from 2022, according to a press statement released on Friday. 

Cosco-owned Piraeus Port Authority SA (OLP) posted record-high turnover and profits in 2023, the company running Greece's biggest port said.

Total revenues reached 219.8 million euros, up 12.9% from 2022, according to a press statement released on Friday.

Piraeus Port Authority (OLP) and Guangzhou port in China, signed on Saturday morning in Piraeus a memorandum of understanding meant to enhance their cooperation.

The port of Piraeus has so far weathered the impact of the Red Sea attacks, but will not be able to do so for much longer, ratings agency DBRS Morningstar warns, as it is expected to take a significant blow with a reduction of 30% or more in cargoes over the next period, due to container shipping giants stopping or changing their routes.

The Piraeus Port Authority (OLP) managers on Tuesday inaugurated the extension of its car terminal, by nearly 40,000 square meters to the north side of the port, increasing the port's capacity for car trade.

The new investment by Cosco's subsidiary totaled 20 million euros, adding space for another 5,100 cars. The project was part of OLP's obligations under the port concession.

A spokesperson for Belgian Interior Minister Annelies Verlinden has confirmed media reports that Piraeus, Greece's largest port, has been excluded from the European Ports Alliance due to significant ownership by the Chinese shipping group Cosco.

Piraeus has posted a new record in cruise passengers, according to last year's figures announced on Thursday, while another record is expected in 2024. 

The Suez Canal crisis has started to cause significant delays in the smooth supply of the Greek market with durable consumer goods imported from Asia, such as refrigerators, televisions, computers and cars.

Piraeus has posted a new record in cruise passengers according to last year's figures announced on Thursday, while another record is expected during 2024.

Ships in various Greek ports were unable to dock on Saturday due to strong northerly winds that reached up to 9 on the Beaufort scale in certain parts of the Aegean Sea.

Rafina and Lavrio ports remained closed, as did the Rio-Antirio maritime route. In northern Greece, ships were unable to sail between Alexandroupoli and Samothraki, Kavala and Prino, and Keramoti and Thassos.