The Port Authority of Pireo assigns COSCO oversight of the management of containerized traffic at Pier I
The goal for the first year is to move 650,000 containers
April 1, 2020
With the decision to give the management of operations to the Terminal I to the Chinese group, the latter in practice will handle the entire container traffic at the Greek airport. The COSCO group, in fact, through the Piraeus Container Terminal (PCT), a wholly owned subsidiary of COSCO Shipping Ports in turn participated in the cosCO Shipping ownership group, already operates the terminal containers at Piers II and III at the port of Pires that move about 90% of all traffic containerized that passes through the Greek airport.
The Piraeus Port Authority (PPA) today signed a contract three-year period, with the possibility of renewal, with the Piraeus Container Terminal management of the terminal at Pier I, with the aim of taking advantage of PCT resources and increase the volume of traffic Pier I. In 2019, in fact, the port of Pireo has moved a total of 5,648,030 teu, with an increase of 15.1% on the previous year, an increase that is was generated entirely by the 17.0% increase in traffic at the Piers II and III operated by the PCT that handled 5,128,600 teu, traffic at Pier I fell by -1.9% 489,430 teu.
In particular, the contract provides for PCT to improve the quality services provided by the Port Authority at Pier I, repaid assets with a fixed annual fee of 67,000 euros plus a fee of four euros for each container exceeded the agreed annual traffic volume share periodically between the parties that between now and 31 January 2021 will be 650,000 teu, ensuring no less 500,000 teu.
The decision to assign PCT supervision operations at Pier I also appears to be a way to compensate the group COSCO of the failure of the Athens government to approve the expansion of containerized activities in the Port of Piree presented by the Chinese group (
11 October 2019). Rejection followed by reassurances Greek Prime Minister Kyriakos Mitsotakis on the possibility of still be able to find a way to meet the intention of the COSCO to increase managed traffic capacity in Greek port (
6 November 2019).
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