Wednesday April 23, 2014 Search
Weather | Athens
23o C
15o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Piraeus port becomes Med’s third biggest in container traffic

By Ilias Bellos

Thanks to greater-than-expected annual growth, the port of Piraeus last year became the Mediterranean’s third largest in terms of container traffic.

Kathimerini understands that Piraeus Container Terminal (SEP), the local subsidiary of China’s Cosco, handled 2.52 million twenty-foot equivalent units (teu) at terminals II and III in Piraeus in 2013, against an estimate of 2.4 million teu. When that is added to the 644,000 containers handled at Terminal I, operated by Piraeus Port Authority (OLP), Greece’s biggest port handled a total of over 3.16 million containers last year.

SEP posted a 20 percent increase last year, on top of the massive 77 percent rise recorded in 2012, when it handled 2.1 million teu, and, along with the 626,000 containers handled at Terminal I, helped Piraeus become the fastest-growing port in the world. The dock operated by OLP only registered a 3 percent increase within the last year.

Once Cosco’s new investment at the western section of Terminal III is completed, the capacity of the whole of Piraeus port will grow from a current annual 4.2 million teu to 6.2 million teu, with experts forecasting that Piraeus could become the biggest commercial port in the Mediterranean by 2016. In 2012 Piraeus ranked fourth, with Valencia in first place, handling 4.46 million teu. Another Spanish port, Algeciras, was in second and Turkey’s Ambarli in third.

The proximity of Piraeus to Suez, which is the point of entry for Asian products to Europe, and its rail interconnection with the national and continental networks, saves some six days for products on their way to Central Europe, making it the gateway of choice for Asian trade. And bear in mind that this is taking place during a period when traffic at Northern Europe’s three biggest ports – Rotterdam, Hamburg and Antwerp – is on the wane.

A second comparative advantage for Piraeus is its car terminal, which is already showing major growth. The Mediterranean is a key European entry point for vehicles from Japan, South Korea and India, so Piraeus is a top-choice transit center for cars, too, while European Union car imports from Japan through the Eastern Mediterranean and the Black Sea are on the rise.

In the years after 2010 Piraeus has managed to record positive growth rates in car handling despite the raging financial crisis, during a period when rival terminals in Italy have either ceased operating (Gioia Tauro) or are recording a declining course (Livorno). In 2012 the Car Terminal of Piraeus Port Authority posted an increase of 9.8 percent in traffic from 2011, and a rise of 66 percent from 2009.

ekathimerini.com , Wednesday Jan 29, 2014 (23:02)  
Credit Agricole said to seek buyer for $554 million Greek loans
Greece qualifies for new debt relief after 2013 budget surplus
Greece, Germany sign deal for IFG
NBG to break free of sovereign shackles with senior bond
Woman dies after falling off state building roof
Police in the district of Peristeri, in western Athens, were investigating the circumstances surrounding the death of a woman who fell off the roof of an Attica regional authority building e...
Tunisian sought over employment scam
Police in Thessaloniki were seeking on Wednesday a Tunisian national over an alleged employment scam. The 59-year-old suspect is believed to have charged 102 people seeking employment over 6...
Inside News
BASKETBALL
Reds and Greens stay alive in Euroleague
Easter – and home advantage – worked wonders for Panathinaikos and Olympiakos who stayed alive in the Euroleague play-offs beating CSKA and Real Madrid respectively on Monday in Greece. Shak...
BASKETBALL
Greens lose badly as CSKA Moscow
Panathinaikos has a mountain to climb in order to reach the Final Four of the Euroleague after losing at CSKA Moscow on Friday for a second time in two days, only this time it was comprehens...
Inside Sports
COMMENTARY
It´s too soon for Europe to declare victory
There was a time not so long ago when the vast majority of experts agreed that a country could not emerge decisively from a financial crisis unless it solved problems of both “stocks” and “f...
COMMENTARY
Reality´s other side
There is plenty of evidence pointing to the fact that the country’s real economy has hit rock bottom and is currently entering a phase of growth. Those who know the market well tend to suppo...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Credit Agricole said to seek buyer for $554 million Greek loans
2. Greece qualifies for new debt relief after 2013 budget surplus
3. Greece, Germany sign deal for IFG
4. NBG to break free of sovereign shackles with senior bond
5. Greece meets budget target for more debt relief from creditors
6. Woman dies after falling off state building roof
more news
Today
This Week
1. FBI seeks to identify victims of suspected US child molester who worked abroad, including Greece
2. Greek debt swells again as Samaras looks to creditors for relief
3. Tunisian sought over employment scam
4. Woman dies after falling off state building roof
5. Greece sees 2013 primary budget surplus at 1.5 bln euros, says deputy finance minister
6. Greece meets budget target for more debt relief from creditors
Today
This Week
1. Greece's market return mirrors return of tourists
2. Greece startup leaders say they can’t break jobless cycle alone
3. Ground-breaking Good Friday mass signals thaw in Cyprus
4. Mayoral candidates clash over Athens mosque plans
5. Government looks to kick on
6. Greece offers to help find Turkish F-16 lost in 1996
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.