Tuesday Jul 29, 2014 Search
Weather | Athens
31o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cosco dock going from strength to strength

By Nikos Bardounias

The container handling rate at Dock II of the port of Piraeus has soared this year, with the Piraeus Container Terminal (PCT), a subsidiary of China’s Cosco Pacific Ltd, handling more than 1.6 million containers in the year to end-September. This was considerably higher than the target of 1.4 million containers and about 96 percent more than the items handled in the same period last year.

According to data published by Cosco Pacific, in September alone PCT handled 171,000 containers, which was 77.4 percent more than in the same month in 2011.

PCT officials estimate that by the end of December, some 2.1 million 20-foot equivalent units (teu) will have passed through Dock II.

The original target had been for 2 million teu for the whole year.

The same sources stressed that Piraeus remains the most dynamic container terminal for the Chinese company in Europe and the Mediterranean, as in the first nine months of 2012, out of the terminals that Cosco controls, Piraeus registered an annual increase of 96 percent, while Naples posted a 19.1 percent rise, Antwerp an 11.6 percent decline, and Suez a 9.5 percent drop in container handling.

“It is obvious that Cosco is directing more and more of its cargo toward Piraeus, and Dock II in particular, which it controls 100 percent, illustrating how significant the port of Piraeus is for its strategic plans,” a source from the International Maritime Union (IMU) who preferred not to be named told Kathimerini.

The same IMU source added that “the reduction of bureaucracy, the competitive rates, the high productivity, as well as the certainty you feel when bringing cargo to Dock II, have contributed in our great majority choosing the Chinese, as we know we will not come up against any unforeseeable circumstances that will cause problems in the proper handling of containers.”

Through its parent company Cosco, PCT has planned significant investments for the further modernization of Dock II, as well as the faster completion of construction work for Dock III, so that once both docks start operating simultaneously the number of containers handled is seen reaching 3.7 million teu per year.

The schedule is for Dock III to become fully operational by 2015. A Piraeus Port Authority (OLP) statement a month ago confirmed that “the projects are being carried out within the contractual dates.”

In the context of the expansion and improvement of services offered, PCT has also proceeded to the construction of ultramodern logistics facilities covering 7,000 square meters. In that new space there is a facility of 5,200 square meters for the storage of dry-cargo loads, while 620 square meters will cater for containers whose cargo requires deep-freeze or refrigeration.

PCT sources told Kathimerini that among the comparative advantages of the new storage facility Cosco has built in Piraeus is the fact that it is located within the port’s free zone type I, which allows for the handling and storage of cargo loads without any customs procedures or guarantees or other bureaucratic processes until their eventual customs clearance and the full or partial exit from the free zone for their absorption by the local market.

ekathimerini.com , Tuesday October 30, 2012 (23:09)  
Great margin for growth in exports
Parliament’s Budget Office says third bailout may be needed
Ryanair ‘not particularly interested’ in Cyprus Air
August 2 expected to be Greek tourism’s D-day
Ministry appeals to keep limit on prescriptions
Faced with the prospect that its attempts to rein in spending on medicines will be scuppered, the Health Ministry appealed on Monday against a Council of State ruling to temporarily suspend ...
Universities aghast at new schools opening
University officials have decried the government’s decision to open two new departments at the same time that funding for the tertiary institutions continues to be slashed. It emerged that t...
Inside News
VOLLEYBALL
Volleyball national team second in European League
Much as the national volleyball team tried to repeat in the finals of the European League the feat it had achieved in the semifinals, it failed to overturn the advantage Montenegro had got f...
SOCCER
Ranieri says he has little to change in Greek national team
The Hellenic Football Federation (EPO) presented Claudio Ranieri as the new Greece coach for the next couple of years, after the Italian manager signed his contract in Athens on Friday. “I l...
Inside Sports
COMMENTARY
Weighing all the factors
Certain people in the know continue to believe that snap elections will take place in the fall. Prime Minister Antonis Samaras is obviously aware of this trend, which is why he told Parliame...
EDITORIAL
Clear rules, for everyone
If we want to deal with the economic crisis, we need clear rules. A large number of individuals and businesses have amassed huge debts they cannot service. And some worrying symptoms have al...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Ministry appeals to keep limit on prescriptions
2. Great margin for growth in exports
3. Universities aghast at new schools opening
4. Greece to hold next talks with troika in Paris, not Athens
5. Anastasiades sees lack of progress on Cyprus talks
6. Supreme Court deputy prosecutor says ex-finance chief should be tried over ‘Lagarde list’
more news
Today
This Week
1. Defense Minister Avramopoulos to represent Greece at European Commission
2. Tree collapses in village square, killing nine-year-old boy
3. Euro inflation seen testing ECB patience as stimulus takes time
4. Minister mulls fixing food and drink prices at non-private beaches
5. Maziotis moved to Diavata Prison in Thessaloniki
6. Multi-bill containing prior actions ready for Parliament
Today
This Week
1. Climber dies in Mount Olympus fall
2. Unequal after death
3. Greek sovereign debt at 174.1 percent of GDP in first quarter
4. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
5. Quadriplegic woman on life support 'dies due to unpaid power bills'
6. Front-line threats
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.