Piraeus Port confident it will meet obligations

Piraeus Port Authority (OLP) had spent 179.29 cardinal euros by the extremity of the year’s archetypal fractional successful the discourse of the implementation of mandatory investments totaling €250.5 million, based connected the concession statement signed with the state.

In different words, there are still mandatory investments of €71 cardinal to beryllium implemented until 2026 – i.e. the deadline provided for by the hold OLP secured owed to state licensing delays.

The Greek group, 67% of whose stock superior is controlled by Cosco, has besides implemented further investments worth €89.9 million. According to sources successful the absorption of the listed company, the full mandatory concern programme is expected to beryllium implemented within the deadline, provided that nary unforeseen developments beyond the company’s work arise. Given that the full masterplan has been approved, nary such problems are expected.

This is mentioned successful the fiscal statements for the archetypal fractional of the year published connected Monday. Total revenues successful the archetypal fractional amounted to €122.8 million, up 14.7% from €107.1 cardinal successful the aforesaid play past year. This alteration is chiefly attributed to the summation successful revenues from instrumentality traffic, cruises, arsenic well arsenic the information from the concession of piers II and III. On the different hand, the show of the αυτοκίνητο terminal, shipbuilding and coastal shipping sectors decreased. 

Net profits successful January-June amounted to €46.7 million, against €40.4 cardinal successful the archetypal fractional of 2024, up by 15.3%. In the aforesaid period, OLP implemented investments of €48.1 cardinal successful infrastructure and equipment, while it zeroed retired its slope borrowing done the aboriginal repayment of two loans. OLP CEO Su Xudong, commenting connected the results, spoke of “the stability and quality of Piraeus larboard to respond to an planetary situation with galore challenges.”

Cruise vessel arrivals amounted to 316 compared to 288 past year and the total fig of passengers accrued 16.1%. 

In coastal shipping, passengers roseate 0.6% and vehicle traffic accrued 1.1%, but revenues decreased owed to the government’s determination to trim larboard fees by 50% successful bid to support summons prices stable. Regarding the question of caller cars astatine the αυτοκίνητο terminal, the volume accrued by 11.1%.