BUSINESS

Piraeus Container Terminal posts 25.8 pct rise in H1 profits

NIKOS ROUSSANOGLOU

TAGS: Shipping

Piraeus Container Terminal SA, a Greek subsidiary of China’s Cosco Shipping, said its net profits in the first half of 2018 jumped 25.8 percent year-on-year to 11.75 million euros, due to increased traffic and the appreciation of the euro against the dollar.

According to data published in a report on Monday, turnover rose 31 percent year-on-year, reaching 96 million euros, as a result of increased container flow from calls from members of the Ocean Alliance.

In July, container traffic reached a record 415,000 TEU, up by 34.3 percent compared to July 2017.

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