Piraeus Port Authority reports on evolution of business activities in 2019

Piraeus, Greece (PortSEurope) September 27, 2019 - The Board of Directors of Piraeus Port Authority SA, operated by China’s COSCO Shipping Ports Limited, has reported on the development of its business activities in 2019. Cruise Cruise passenger traffic in the first half of 2019 recorded an increase over the corresponding period of 2018, both for homeport passengers (+ 20.1%) and for transit passengers (+ 4.9%). As a result, total passenger traffic in the first half of 2019 increased by 10.7% over the corresponding period of 2018, from 336,712 to 372,622 passengers. The increase in passenger traffic and cruise arrivals is a result of the gradual increase in cruise ships in the Greek islands in combination with the aggressive attraction policy implemented by the Company over the last two years. Coastal Shipping The number of total passenger traffic increased by 3% from 6.58 to 6.78 million passengers compared to the previous year, while vehicle traffic increased by 1.7% from 1.20 million to 1.23 million vehicles. More specifically, the increase in passenger service was due to the increase in the number of domestic lines (+5.3%) and Argosaronic (+5.4%). The movement of the Salamis ferry line (+0.8%) and the economic unstained lines (+0.4%) did not show a significant change. Piraeus continues to be Europe's largest passenger port to this day and is a critical hub for islands of the Aegean archipelago with inland, helping to maintain the country's social cohesion. Car Terminals In the first half of 2019, traffic at the car terminals decreased by 11.0%. This decrease was due to a decrease in transhipment traffic (-15.9%) as the handling of import vehicles registered a marginal increase (+0.8%). Reduced cargo traffic is a result of the slowdown in sales in Europe as well as economic instability in Turkey, which is a large producer and consumer country. Domestic vehicle sales in the last three years have seen double-digit growth rates. The slowdown in terminal traffic growth in the first half of 2019 is estimated to be due to a postponement of consumer purchasing decisions and political elections in the country as car registrations are up 5.2% in the first half. Container Terminal Traffic at the Container Terminal of Pier I in the first half of 2019 reached 196,669 TEU, recording a 22.4% decrease over the corresponding period of 2018. This reduction is due to the decrease of transshipment cargo (-28.8%), despite the fact that the domestic (imports and exports) cargo increase by 5.6%. The overall reduction in cargo traffic relates to industry competition and to the terminal's reduced capacity due to extensive infrastructure maintenance projects. Ship Repair During the first half of 2019, drydock usage days recorded a +15% increase with drydocked ships up 13% over the corresponding period of 2018. It is noted that the comparison is not entirely accurate, as the “Piraeus II” drydock was under maintenance in 2019, whereas “Piraeus III” was not available in the first half of 2018. However, the overall increase in working days indicates that intensive efforts to attract work are yielding result and will gradually put Perama back on the list of shipping companies as areliable and quality choice. Source: PPA Copyright (C) PortSEurope. All Rights Reserved. 2019.

Piraeus Port Authority reports on evolution of business activities in 2019

All news

Over 1 ton of cocaine en route to Morocco seized in Brazil’s Itapoa port

Russian Navy: The Arctic – a region of possible future conflict

New shipbreaking yard in Egypt’s Damietta port

Latakia and Beirut ports might lose captagon “business”

CMA CGM heads consortium with concession in inland Port of Lyon

Our Expert Analysis

Latest Free Reads

Top Ports

Piraeus Port Authority reports on evolution of business activities in 2019

Share this news:

All news

Over 1 ton of cocaine en route to Morocco seized in Brazil’s Itapoa port

Russian Navy: The Arctic – a region of possible future conflict

New shipbreaking yard in Egypt’s Damietta port

Latakia and Beirut ports might lose captagon “business”

CMA CGM heads consortium with concession in inland Port of Lyon

Our Expert Analysis

Latest Free Reads

Top Ports