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Greece Shipping Report Q1 2011


Greece Shipping Report Q1 2011

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Additional Information
Price $530.00
Meta Description No
Publisher Business Monitor International
Date of Report Aug 1, 2011
Quick Overview
A further decline in port throughput is on the cards at Greece's ports in 2011 as macro factors affect the
forecasts, with total trade predicted to decline by 1.6%.
The uptick in 2010 will therefore be cancelled out, meaning that recovery to historical highs has been
pushed further into the future, past out mid-term forecast period.
BMI notes that past few years have been tough on Greece's ports, with throughput buffeted by industrial
action and the downturn.
While the negative macro outlook for Greece affects projected port throughput, BMI is buoyed by
developments at the ports that suggest the facilities could diversify their client base away from the muted
domestic market into areas that could offer more profit and increase throughput by using ports as
transhipment hubs or gateways.
Headline Industry Data
?? 2011 port of Thessaloniki tonnage throughput forecast -0.10%, following projected growth of
2.75% in 2010.
?? 2011 port of Piraeus container throughput forecast -0.90% following projected growth of
10.21% in 2010.
?? 2011 total trade y-o-y change forecast at -1.61%.
Key Industry Trends
China Increases Exposure To Greek Maritime Sector - China continues to cement its role in Greece's
maritime sector following the China's main terminal operator COSCO taking over operations at one of the
container terminals at the port of Piraeus. The terminal operator is seeking to expand its role in the
country's logistics network further, with a plan to own and operate the Thriassio transhipment hub.
Chinese banks have also opened their doors to Greek shipping firms seeking finance in order to expand,
in another example of Sino-Greek relations on the shipping front increasing.
Thessaloniki Seeks Gateway Role - Thessaloniki is seeking its niche as its bigger container port sister,
Piraeus, expands with the help of Greek investment. Thessaloniki is well placed to develop into a
maritime gateway for the Balkans.
Risks To Outlook
Unemployment is rising, negatively affecting import demand, and together with a weak export sector this
spells disaster for Greece's ports. While we forecast muted throughput growth over the mid term, we do
note some developments which could have an upside impact on our current forecasts, namely COSCO
Pacific's role at the port of Piraeus and the port of Port of Thessaloniki's plan to develop into a maritime
gateway for the Balkans.
Table of Contents
Executive Summary ........................................................................................................................................ 5
SWOT Analysis ................................................................................................................................................ 7
Greece Shipping SWOT ........................................................................................................................................................................................ 7
Global Overview .............................................................................................................................................. 8
Container Shipping Overview .................................................................................................................................................................................... 8
Dry Bulk Shipping Overview .................................................................................................................................................................................... 18
Liquid Bulk Overview .............................................................................................................................................................................................. 24
Industry Trends And Developments ............................................................................................................ 28
Market Overview ............................................................................................................................................ 30
Port of Piraeus ......................................................................................................................................................................................................... 30
Overview ............................................................................................................................................................................................................. 30
Terminals, Storage And Equipment .................................................................................................................................................................... 31
Expansions And Developments ........................................................................................................................................................................... 32
Multi-Modal Links .............................................................................................................................................................................................. 32
Port of Thessaloniki ................................................................................................................................................................................................. 34
Overview ............................................................................................................................................................................................................. 34
Terminals, Storage And Equipment .................................................................................................................................................................... 35
Expansions And Development ............................................................................................................................................................................. 36
Multi-Modal Links .............................................................................................................................................................................................. 36
Industry Forecast .......................................................................................................................................... 38
Table: Major Port Data ...................................................................................................................................................................................... 40
Table: Trade Overview ....................................................................................................................................................................................... 41
Table: Key Trade Indicators ............................................................................................................................................................................... 41
Table: Main Import Partners .............................................................................................................................................................................. 43
Table: Main Export Partners .............................................................................................................................................................................. 43
Company Profiles .......................................................................................................................................... 44
A.P. M├śLLER-MAERSK .................................................................................................................................................................................... 44
Mediterranean Shipping Company (MSC) .......................................................................................................................................................... 52
CMA CGM .......................................................................................................................................................................................................... 56
Neptune Orient Lines (& APL) ........................................................................................................................................................................... 60
Hapag-Lloyd ....................................................................................................................................................................................................... 65
Evergreen Line ................................................................................................................................................................................................... 68
China Ocean Shipping (Group) Company (COSCO) .......................................................................................................................................... 72
CSAV Shipping ................................................................................................................................................................................................... 77
China Shipping (CSCL) ...................................................................................................................................................................................... 81
Hanjin Shipping .................................................................................................................................................................................................. 85
Mitsui OSK Lines (MOL) .................................................................................................................................................................................... 91
Nippon Yusen Kabushiki Kaisha (NYK) .............................................................................................................................................................. 97




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