ECONOMY

OLP employees set to continue their strike action

All export procedures have come to a standstill at the port of Piraeus during the past week and will continue to be frozen, due to the industrial action by port workers protesting the takeover of the Container Station’s operations by China’s Cosco. Yesterday the Federation of Port Workers of Greece (OMYLE) announced a new 48-hour strike for today and tomorrow, warning that the labor action will continue until the agreement between Piraeus Port Authority (OLP) and Cosco is revoked. Serious problems have already been caused for exporting companies which, according to the head of the International Maritime Union, Nikos Arvanitis, risk incurring financial losses as customers abroad cancel orders out of fear they will not receive their goods on time. OLP stressed in a statement yesterday that the agreement cannot be revoked as it has already been legally ratified, while adding that the strike will create severe problems for the port authority in terms of lost revenue and damage to its credibility.