News on Greece.

Bimco opens office in Athens

Shipping association Bimco will open a new office in Athens to be closer to Greek shipowners. Greeks make up the largest share of Bimco's members by fleet size.

Cosco's master plan for Piraeus suffers setback

The Greek authorities have shelved a planned tender for a new facility in the Port of Piraeus, which is owned by China's Cosco. The case marks the latest example of the Chinese shipping group's challenges related to the massive port acquisition.

Greece's two biggest ports are now privately owned

With the sale of its second-largest port, in Thessaloniki, to a German-led consortium, and last year's Chinese acquisition of the country's biggest port, Piraeus, Greece has now sold its two most important ports.

Greece seeks to lure UK-based shipowners and brokers on Brexit

Greece is looking to attract UK-based shipbrokers, shipowners, and ship-insurance companies to Athens as the UK gears up to leave the EU bloc. The government wants Piraeus to become "one of the world's largest shipping centers and a modern maritime cluster," says Greece's Shipping Minister.

New buyers for massive Greek shipping loans

Royal Bank of Scotland is close to selling a loan portfolio consisting primarily of Greek companies totaling USD 600 million to a series of buyers, reports Reuters. Several investment banks are mentioned as possible buyers.

Greek seafarers extend strikes about tax conditions

Greek seafarers have in recent days blocked ports across the entire country. The strikes will now be prolonged to Friday. The seafarers are protesting a number of hits to their working conditions dictated by the country's creditors.

Cosco completes purchase of Piraeus terminal

The first stage of Chinese Cosco's takeover of Greece's largest port, Piraeus, is now complete. The next phase depends on Cosco's performance over the coming five years, informs the Greek privatization fund.

Fresh strikes will soon hit the Greek ports

Greek port workers will again halt their work in Piraeus and Thessaloniki in order to protest against planned privatizations. The strikes begin Thursday and will run over two days.

Accountant casts doubts on Dryships' survival

Several lenders are now criticizing Greek-based Dryships for defaulting on loans and breaching lending covenants. Negotiations are underway, but Dryships cannot guarantee that the talks will be fruitful.

Greek shipowner buys more vessels from himself

The problems continue to pile up at Dryships, which once again is selling vessels to its own CEO, George Economou. The carrier is also divesting a stake in Ocean Rig, which is likewise owned by the Greek billionaire.

EU puts pressure on Greece in tax dispute

The European Union is waiting for a response from Greece regarding the country's lax taxation on shipping. The two sides are in dialog and the Commission is preparing potential next steps, a spokesperson informs ShippingWatch.

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