ECONOMY

March sees PCT container traffic recover

Container traffic recovered in March at the two terminals managed and operated by Chinese giant Cosco Pacific in Piraeus.

Cosco’s local subsidiary, Piraeus Container Terminal, on Thursday announced that it handled 266,500 container last month, against 220,500 in March 2014, posting an increase of 21 percent.

This meant that PCT put a stagnant first couple of months this year behind it to record 7.5 percent growth in containers handled year-on-year in the first quarter of 2015, for a total of 736,400 containers. This is also good news for Piraeus Port Authority, which has leased the terminals to Cosco, as a major part of the Athens-listed authority’s revenues derive from PCT earnings.

In January and February activity at the PCT terminals had grown by just 1.1 percent on an annual basis, after major yearly growth of 18.5 percent recorded in 2014.