News on Greece.
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.
Major Greek shipowners point to liquefied natural gas, LNG, as the most obvious candidate for the fuel of the future. But there is a significant reason that many hesitate to invest.
Shipowner Vangelis Marinakis, also the owner of two high-profile soccer clubs, rejects all drug charges against him.
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 and the EU Commission could possibly spend the rest of the year negotiating the country's taxation of shipowners. The negotiations could affect other EU member states.
According to the German finance minister, Greece has failed its commitment to tighter taxation of its shipowners. An EU solution with Greece is important for several EU member states.
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.
A French-German consortium, which includes the world's third-largest container carrier CMA CGM, gains control of the Port of Thessaloniki.
Three offers have been submitted for the Port of Thessaloniki in Greece. DP World is among the bidders for the controlling stake in the port, which will be privatized as part of the Greek debt agreement.
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 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.
Greek-based Diana Shipping has called off negotiations with a series of lenders and has no plans to resume the talks, informs the carrier in relation to its third quarter interim report, which shows a deficit of USD 79.8 million.
Greek bunker supplier Aegean sold more bunker and earned more money in the second quarter this year. The future is bright, says the company in its interim report.
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.
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.
Greek carriers will be among the highest taxpayers by international standards as a result of new EU tax regulations, says the president of the Union of Greek Shipowners, who warns of out-flagging.
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.
The Greek government has published numbers at the request of Parliament members for how much the country's shipowners have paid in taxes over the last three years.
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.
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.
The Greek ports will once again be hit with a 48-hour strike starting tomorrow, heralds service company Inchcape Shipping Services.
An old relationship and an old debt are part of the common history shared between Greek refinery Hellenic Petroleum and Iran's National Iranian Oil Company, which will now resume the collaboration that was discontinued by the sanctions.
The Union of Greek Shipowners fires back after the EU Commission has challenged the country's tax legislation for the shipping industry. This will have major consequences not only for Greece but the entire EU, writes the union.
The figure looks impressive on paper, but the Greek board of directors tasked with selling the country's biggest port is less impressed.
The longtime special treatment in Greece for shipowners has now gone too far, according to the EU Commission, which has given the Mediterranean nation a deadline to change its tax legislation.
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