Port

Greek ports may be expecting fewer cruise ships this year, but the number of Greeks opting for cruise vacations is on the rise.

The privatization of the port of Piraeus was one of several major investment projects in Greece that was fiercely battled by opponents.

The port of Piraeus has recorded impressive leap in competitiveness, gaining the 8th spit among the top 20 European ports. The port registered a rapid growth over the past 10 years regarding container handling over the past 10 years, according to data released by a study conducted by port economics.eu.

Cruise passenger visits to Greek shores are projected to be lower this year compared to 2016, while there are warning signs for next year too, according to schedules that international cruise companies have drafted for this country.

Cosco Shipping Ports Limited expects its growth to come from ports outside of China, such as that of Piraeus, in 2017, offsetting the losses it stands to incur from its domestic ports, according to Morgan Stanley.

Greece's potential to become an international trade hub remains untapped, as despite the spectacular performance of the port of Piraeus in recent years in terms of container transit, and to a lesser extent the port of Thessaloniki, there is a shortage of infrastructure for combined transport, such as major highways and a modern rail network, according to a study published yesterday.

The Greek cruise market is bracing for a serious contraction next year, according to figures on cruise ship calls scheduled for Greek ports in 2017.

Repeated strikes and problems in services such as piloting have inflicted irreversible damage on the international credibility of the port of Piraeus and prospects of employment growth in the sector, Greek port industry officials tell Kathimerini.

Government appointments made over the past year or so at the governing boards of ports have led to several instances of ports having more executives than they do employees.

Greek cruise ship operators are worried of a lasting impact on the sector from an ongoing strike by port workers protesting the sale of the country's biggest port Piraeus to Chinese shipping giant Cosco.

In April Greece agreed the sale of a 67 percent stake in Piraeus Port to Cosco for 368.5 million euros in order to comply with its international bailout terms.