Turnover of Greece's Piraeus port up 8.3 pct in H1 2021

Aerial photo taken on Sept. 6, 2019 shows the Piraeus port in Greece.(Photo by Lefteris Partsalis/Xinhua)

China's COSCO Shipping acquired the majority of PPA's shares in 2016 after an international tender. The company's subsidiary, Piraeus Container Terminal (PCT), has managed the port's container terminal since 2009.

The turnover of Piraeus Port Authority S.A. (PPA S.A.) of Greece increased by 8.3 percent in the first half (H1) of 2021 year-on-year, the company said in a press release on Tuesday.

The Chinese-controlled harbor's H1 2021 turnover reached 72 million euros (84.1 million U.S. dollars) compared to the 66.5 million euros over the same period in 2020.

The rise was linked to an income increase in the cruise, car handling and coasting segments by 175.1 percent, 34.9 percent and 9.7 percent, respectively.

Aerial photo taken on Sept. 6, 2019 shows the Piraeus port in Greece. (Photo by Lefteris Partsalis/Xinhua)

The PPA's turnover also expanded thanks to a 5.7 percent income increase from the concession agreement relating to Pier II and Pier III.

Earnings before taxes in the first half of this year amounted to 20.84 million euros and earnings after taxes to 15.1 million euros.

"The continuous increase of turnover despite the significant difficulties we all faced due to the pandemic proves once again that PPA S.A. is a company building on a solid and a strong basis, continuing with the same dedication and high sense of responsibility with the implementation of its strategic plan for the Port of Piraeus," said Yu Zenggang, PPA's chairman.

Photo taken on Sept. 6, 2019 shows the Piraeus port in Greece. (Photo by Lefteris Partsalis/Xinhua)

Yu voiced gratitude to the Greek government for its COVID-19 prevention and economic recovery measures.

China's COSCO Shipping acquired the majority of PPA's shares in 2016 after an international tender. The company's subsidiary, Piraeus Container Terminal (PCT), has managed the port's container terminal since 2009. (1 euro = 1.17 U.S. dollar)