Piraeus Port Authority: Net Profits Exceed 70mln€ in Jan-Sep 2024

All indices rise in third quarter of 2024 compared to corresponding period of 2023

The Piraeus Port Authority (PPA) on Friday reported a significant improvement in revenues and new historic high performances during the third quarter of 2024.

Specifically, the Cosco-managed port authority, the biggest and busiest in Greece, reported net profits of 29.8 million euros, up by 9.6% on an annual basis, while net profits over the first nine-month period of 2024 exceeded 90 million euros – up 6.6 percent compared to the corresponding period of 2023.

The biggest drivers in the PPA’s results were cruise ship operations, containers and imported vehicles, along with the mainstay coastal shipping – all despite the problems caused in the transport chain due to risks of attacks on vessels in the southern Red Sea and Gulf of Aden, which affect transit through the Suez Canal.