Port operating companies

A pending draft law on the Piraeus Port Organization aims to pave the way for the submission of binding offers for a 51% stake of the Piraeus port by three candidate investors participating in the second phase of the tender (COSCO, AMP Terminals Maersk, ICTSI).

By Ilias Bellos

With one eye on the country?s negotiations with its creditors, state sell-off fund TAIPED is proceeding with the tender for the controlling stake in Piraeus Port Authority (OLP), with a likely deadline for the submission of binding offers on September 17.

One of the biggest containers ships in the world, the MSC Istanbul, arrived at the port of Piraeus on Thursday.

The vessel, which belongs to one of the port’s biggest customers, Mediterranean Shipping Company SA of Geneva, was built in 2015 and can transport … 16,652 containers!

The appearance marked the first time it docked in Piraeus.

By Ilias Bellos

The tender process for the Thriasio freight center is about to restart, with candidate investors set to receive the terms so that there may be tangible progress by end-June.

Cosco Pacific is said to be in pole position ahead of the tender for the privatization of Piraeus Port Authority (OLP).

The new terms provide for the preferred bidder to get 51 percent of the company, expanding to 67 percent if they implement investments of 350 million euros in the first four years.

Greece is in advanced discussions with China's Cosco to boost their cooperation in the country's biggest port Piraeus, the Greek defence minister said on Friday.

Cosco, which currently manages two container piers at Piraeus Port, is also interested in acquiring a majority stake. Athens has put the port up for sale.

Three companies were asked to submit binding bids for 51% of the PPA by the government, according to Reuters. Cosco, Dutch APM Terminals as well as Ports of America, ICTS and Utilico have progressed to the second phase of negotiations.

Greece has asked three firms to submit binding bids by September for a majority stake in the country's biggest port, Piraeus (OLPr.AT), a senior privatization official told Reuters on Thursday, unblocking a major asset sale.

The Greek government is renegotiating the terms under which Piraeus port will be sold to Chinese Cosco, Shipping and Tourism Minister Giorgos Stathakis said in parliament, as reported by the local media. 

PPA (Piraeus Port Autority)’s majority stock is to be put up for sale by the Greek government.

According to the Wall Street Journal, which quotes a top government official, the new proposal will be forwarded to interested parties next week. Remuneration from the privatization will be lower.