By Paris Tsirigotis

 

 

The Port of Piraeus' car terminal shows great dynamics in terms of domestic cargo handling, while it aspires to become one of the largest vehicle transit centers in the Eastern Mediterranean following its recent extension.

 

The organization's goal is to increase the number of annual vehicle traffic both at transshipment and domestic consumption levels, while the new investment will be able to accommodate three pure car carriers.

 

In the first nine months of 2023, the car terminal's revenues amounted to 16.3 million euros, compared to 13.3 million euros in 2022. Domestic cargo also increased by 35.6% (from 88,299 to 119,735 vehicles).

 

From the beginning of 2023 to the end of September 2023, a total of 252,121 vehicles were recorded, compared to 267,320 in the same period of 2022, down 5.7%.

 

In the third quarter of 2023, the revenue showed an increase of 22.9% compared to the corresponding period of 2022.

 

At the same time, profitability rose 49.5% compared to the same period in 2022.

 

In terms of traffic, in 2022 compared to 2021 domestic cargo showed an increase of 16.5%.

 

In total, 116,732 vehicles were handled by the Port of Piraeus vehicle handling station for the Greek market, compared to 110,225 in 2021, up 16.5%.

 

In 2022, 234,238 vehicles were transported from the port of Piraeus to other Eastern Mediterranean countries, compared to 328,988, down 28.8%.

 

A total of 350,970 vehicles were handled through the port of Piraeus in 2022, compared to 429,213 in 2021, down 18.2%.

 

New 20-million-euro investment

 

The new investment of the Cosco subsidiary amounted to 20 million euros, enabling the parking of an additional 5,100 cars.

 

It is included in the mandatory investments of the Organization, according to the Concession Agreement and is a Priority II project.

 

The new car terminal with the additional car storage area has an area of approximately 40,000 square meters towards the north side of the port. Thus, the total area of the vehicle handling station now stands at 110,000 square meters.

 

The new project included expansion works of the existing pier built in 1962, along with the improvement and upgrading of the port infrastructure and electrical installations.