Piraeus Power Port: Among World’s Best

The Port of Piraeus is among the world’s 40 leading container ports, according to Lloyd’s List annual report released on Monday.

For the first time in its history and despite Greece’s ongoing economic turmoil, Piraeus has moved to 39th spot in the “Containerisation International Top 100 Ports” list, based on cargo capacity (teu) and movement of its container ships. Piraeus went from 93rd spot in 2010, to 76th in 2011, 46th in 2012 and 43rd in 2014.

The Greek port gained significant ground in four years, growing into one of the world’s most competitive ports and moving up 54 spots, attributed mainly to the effective implementation of strategic collaboration policies with large terminal operators such as Cosco.

This places Piraeus among Europe’s Top 10 ports, holding the eight spot, and  fourth among the ports of the Mediterranean behind Algeciras, Valencia and Port Said. Europe’s leading port is Rotterdam (11th on the international list), while Asia maintains dominance in world container port rankings. Shanghai is the world’s strongest.

Piraeus Port Authority Posts Profit

In the meantime, the Piraeus Port Authority (PPA) announced last week a 130.5 percent increase in after-tax profit to 7.6 million euros compared to 3.3 million euros in the first half 2014.

Total revenues dropped slightly by 2.9 percent from 50.2 million euros in 2014 to 48.7 million euros in 2015.

“Despite the ongoing economic crisis, which affects the areas of trade and transport and hence the company’s activities, the PPA once again achieved positive results by significantly increasing its profitability in the first half,” said PPA President and CEO Yiannis Kouvaris, who took over in June.