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.
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 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.
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.
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.
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 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.