Wednesday April 1, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cosco, spurred by container activity, posts 23 pct profit rise

Piraeus Container Terminal SA, a subsidiary of Chinese company Cosco Pacific which manages the container terminal facilities and operations at Piraeus port, achieved a 22 percent profit increase in the first half of the year, the parent company announced on Tuesday.

First-half profit figures for PCT, which controls piers II and III in Piraeus and is a subsidiary of one of the world’s biggest managers of port facilities, reached 11.3 million euros, up from 9.37 million during the first half last year.

Revenues generated by port activities increased by 24.7 percent in the first half of 2014, reaching 69.3 million euros from 55.5 million in the first half of 2013.

The rising trend in the number of containers handled by the company was cited as a fundamental reason behind its improved figures.

According to company data, PCT processed a total of 1.47 million containers in the first half of 2014, up from 1.16 million in the first half last year, a 26.7 percent year-on-year increase.

With an eye on the year’s second half, Cosco announced that an even sharper upward performance trend was observed during the month of July. The company said PCT had handled 285,600 containers in July, up from the 208,600 during the same month last year, representing a 37 percent increase.

For the current year’s seven-month period from January to July, Piraeus Container Terminal SA processed 1.76 million containers, a 28.3 percent increase compared to the same period last year, when it had handled 1.37 million containers.

Cosco took the over management of its first container terminal at Piraeus in 2008 after agreeing on a 35-year lease with the Greek government. It now runs two piers. Last September, the Chinese firm agreed to spend 230 million euros to increase Piraeus’s cargo handling capacity by two-thirds over the next seven years to an annual 6.2 million 20-foot equivalent units (TEUs). Piraeus’s container port handled a total of 625,914 TEUs of cargo last year, up 28 percent on 2011 but still 6 percent below its 2009 figure.

Cosco was one of six investors to express an interest in a 67 percent stake in the Piraeus Port Authority (OLP) in April.

ekathimerini.com , Tuesday August 26, 2014 (21:06)  
Buffett says Greek exit from euro ‘may not be a bad thing’
European shares fall early; eurozone PMIs eyed
Business sentiment in decline
Ministry headache over T-bills
Man fined 60,000 euros for shooting neighbor´s dogs to death
A man has been fined 60,000 for killing the dogs of his neighbor in the village of Anydro, in Fthiotida, central Greece, reports said Wednesday. The 85-year-old man had shot and killed the a...
Protesters occupy Xanthi municipality
Members of anti-establishment groups on Wednesday staged a sit-in at the municipality of Xanthi, in northern Greece, in solidarity with hunger strikers demanding the abolition of “Type C” ma...
Inside News
BASKETBALL
AEK could get a wild card to the Euroleague
AEK shows capable of climbing as high as third in the Basket League, as its 16-point home win over third-placed Aris on Sunday confirmed it can challenge both Aris and PAOK to the first spot...
SOCCER
Cyprus soccer eyes reunion after 60-year divorce
Turkish Cypriot soccer officials on Monday vowed to press ahead with attempts to reunite with the Cyprus Football Association, (CFA), triggering a political storm on the ethnically-split isl...
Inside Sports
COMMENTARY
Going his own way
While up until the last election we had become accustomed to referring to the coalition government led by Antonis Samaras as one featuring a split personality, no political psychoanalyst cou...
EDITORIAL
Righting the wrongs
A country that wants to move forward should study and deal with its past mistakes in a mature and responsible manner. Greece was hit by an unprecedented debt crisis and it came to the brink ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Man fined 60,000 euros for shooting neighbor´s dogs to death
2. Protesters occupy Xanthi municipality
3. Greek pensioners protest over cuts, healthcare
4. Buffett says Greek exit from euro ‘may not be a bad thing’
5. European shares fall early; eurozone PMIs eyed
6. Greek economy minister sees deal with EU/IMF on reforms next week
more news
Today
This Week
1. Athens aims to tighten ties with Russia
2. Finance Ministry officials to discuss talks progress as EU pushes for action [Update]
3. Spike in migrants reaching Lesvos
4. Contested health law to be repealed
5. Going his own way
6. Buffett says Greek exit from euro ‘may not be a bad thing’
Today
This Week
1. Next Monday is D-Day for state funds
2. Eurogroup unlikely to be held soon to discuss Greek reforms
3. Moscow expects progress from Tsipras visit
4. Some more equal than others
5. Greece to present reforms by Monday, says gov't spokesman [Update]
6. Greece optimistic on deal with euro area next week
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.