Piraeus Port Authority SA

Piraeus Port Authority SA (OLP) registered a rise in revenues and profits in the first half of 2024, once more achieving the best returns historically for the specific time period.

Total revenues for the first half of the year came to 107.1 million euros compared to €102.4 million in the same period in 2023, an increase of €4.7 million, or 4.6%.

Cosco-owned Piraeus Port Authority SA (OLP) posted record-high turnover and profits in 2023, the company running Greece's biggest port said. 

Total revenues reached 219.8 million euros, up 12.9% from 2022, according to a press statement released on Friday. 

Cosco-owned Piraeus Port Authority SA (OLP) posted record-high turnover and profits in 2023, the company running Greece's biggest port said.

Total revenues reached 219.8 million euros, up 12.9% from 2022, according to a press statement released on Friday.

Piraeus Port Authority SA (OLP) on Friday announced that 2022 financial results marked another year of growth, with a turnover of 194.6 million euros compared to €154.2 million in 2021, indicating an increase of €40.4 million or 26.2%.

The turnover of Piraeus Port Authority SA (OLP) in 2018 amounted to 132.9 million euros compared to 111.5 million euros in 2017, an increase of 19.2 percent, the company announced on Friday.

Profit before tax amounted to 42.3 million euros, up from 21.2 million euros in 2017, an increase of 100 percent, according to an e-mailed statement.

The rapid development and the increasingly important role of the port of Piraeus, future investment plans of Piraeus Port Authority SA (OLP), increased interest in the city and the scope for deepening bilateral trade relations between Greece and China were the focus of talks during a visit by China's new ambassador to Greece, Zhang Qiyue, to the Piraeus Chamber of Commerce and Industry on Monda

Cosco-controlled Piraeus Port Authority SA (OLP) has accused the state's Public Authority of Piraeus Port (DALP) of a "systematic effort to dispute the privatization of OLP and its operation in the context of the law on private enterprises," effectively speaking of state intervention.

By Agnes Lovasz and Paul Tugwell

Greece will continue with efforts to privatize the country's largest port and regional airports as it seeks ways to attract investment for other state assets, Economy Minister George Stathakis said, in a government concession in talks with its creditors.

By Sharon R Smyth, Nikos Chrysoloras and Paul Tugwell

Greece will proceed with the sale of stakes in strategic assets such as the port of Piraeus and 14 regional airports this year, according to Greek officials with direct knowledge of the matter.

The Greek port of Piraeus could become one of Europe’s top five container-shipping hubs as the government spurs logistics activities in a bid to kick-start economic growth, said Development Minister Kostis Hatzidakis.