By Antonis Tsimplakis

atsimplakis@naftemporiki.gr

Piraeus Container Terminal (PCT) recorded an 11.4% increase in container throughput at Piers II and III in the third quarter of 2026, with COSCO Shipping Ports attributing the performance to stronger demand in the Mediterranean region.

The port of Piraeus is also among the hubs where the group plans to strengthen its operational capabilities. According to its financial and operating results report, PCT handled 1,090,284 TEUs, compared with 978,711 TEUs in the same quarter of 2025.

This represents an increase of 111,573 TEUs, while throughput reached 3,085,434 TEUs in the first nine months, up from 3,033,606 TEUs, marking a rise of 1.7%.

A comparison of the two periods shows that growth in the third quarter was significantly stronger than in the first nine months. The report specifically links the quarterly improvement to Mediterranean demand, but does not disclose separate financial results for PCT.

The strategy

COSCO Shipping Ports has identified Piraeus, alongside its terminals in Wuhan, China, Abu Dhabi in the United Arab Emirates and Chancay in Peru, among its priorities for strengthening operational capabilities.

Its plans include attracting new shipping services and additional port calls, closer cooperation with the wider group’s fleet and the use of digital applications to improve efficiency.

The strategy also involves improving connections between mainline and feeder services, attracting more cargo and seeking stakes in strategic port hubs.

The company pointed to opportunities arising from the resumption of shipping routes through the Suez Canal.

At Chancay port in Peru, throughput rose by 24.9% to 139,669 TEUs, from 111,862 TEUs in the third quarter of 2025, as the terminal expanded its service network and international connections.

At group level, the strategy also provides for greater automation, the deployment of artificial intelligence applications, increased use of clean energy and participation in the development of green fuel supply chains, with the aim of supporting sustainable growth and generating stable, long-term returns for shareholders.

At the same time, the company is monitoring developments in the Middle East and plans to improve its contingency arrangements and develop alternative logistics corridors.

International network

Terminals outside China handled 11.32 million TEUs in the third quarter, up 19.4%, accounting for 26.8% of total throughput.

Equity throughput, which reflects the volume attributable to the group’s ownership stakes, increased by 15.6% to 4.05 million TEUs.

However, the comparison is also affected by the addition of terminals to the network. The terminals at Laem Chabang port in Thailand have been included in the figures since October 2025, while the new RSCT container terminal at Ain Sokhna port in Egypt began operations in January 2026. Consequently, there are no corresponding comparative figures for these terminals for the same periods in 2025.

In China, throughput reached 30.94 million TEUs, up 4.9%, accounting for 73.2% of the total. Across the network, the group handled 42.27 million TEUs, an increase of 8.4%. For the first nine months, total throughput reached 122.42 million TEUs, up 8.1%.

Total revenue at COSCO Shipping Ports, which operates in 40 ports worldwide, rose by 13% in the third quarter to $484.3 million, while gross profit increased by 19.3% to $128.1 million.

Profit attributable to shareholders stood at $82.6 million, up just 0.1%. Profit before tax reached $150 million, compared with $118.2 million.

Meanwhile, the tax charge increased to $47.5 million from $19.1 million. Basic earnings per share fell by 3.3% to 2.06 US cents.

For the first nine months, revenue totaled $1.39 billion, up 12.6%, while profit attributable to shareholders rose by 19.7% to $316.3 million.

Port Authority: Investments surge 84.5% to €126.6 million in 9-month

Piraeus Port Authority (PPA) recorded strong investment momentum in the first nine months of 2026, with capital expenditure rising 84.5% to €126.6 million, while maintaining high profitability and reporting the first signs of a recovery in container traffic, despite pressure from geopolitical developments and disruptions to international trade.

Net profit fell 21.5% to €59.7 million in the nine-month period, as geopolitical developments in the Middle East affected cargo flows, although the company reported early signs of a recovery in container handling.

According to the company’s financial results announcement, revenue declined by 8.2% to €178.8 million, compared with €194.7 million in the same period of 2025, while pre-tax profit fell 20.7% to €76.8 million, from €96.9 million. Despite the decline in financial performance, management stressed that profitability remained at high levels, while implementation of the investment programme continued.

Geopolitical developments in the Middle East continued to cause uncertainty for international container shipping and the global supply chain. The direct impact on the company’s overall activity remained limited, but it did affect demand and trade flows at the Container Terminal, particularly during the first half of the year.