Analysis: On the wrong track – Transnet's rail freight reform
Transnet’s rail reform proposal is on the right track, but in its current form it ...
We’re not sure who really won this one… it would appear that Cosco, which already managed Piraeus’s second container terminal, was the only operator to bid to for a deal that effectively amounted to the firm buying the remainder of the port. According to Reuters, for the princely sum of $280.5m, it will acquire 51% of the port’s share capital, and the remaining 16% that it doesn’t already own for $88m after five years and once it completes investments of $350m over the next decade. The sale of the port is seen as one way for Greece to reduce its enormous debts, but it has not been a popular in the country. Splash247 today reports that Greek shipping minister Theodoros Dritsas has used it as an opportunity to attack the country’s privatisation body, and claims there are still a number of hurdles to be overcome before ownership is transferred to Cosco.
MSC Aries now bound for Iran, and crisis will be 'a catalyst for higher rates'
Urgent call for breakdown of cargo onboard as General Average declared on Dali
Hong Kong drops out of world's top 10 busiest container ports
Iranian troops seize MSC box ship while Somali pirates net $5m ransom for bulker
Flexport is 'back on track' – now it needs to start growing again
Bottlenecks and price hikes as airlines now avoid Iran airspace
Capture of MSC Aries will further drive up Indian export costs
Iran may now pose a threat to multimodal supply chains via Dubai
Alex Lennane
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