by Lloyd's List

27 September 2024 (Lloyd's List) - THESSALONIKI port has posted strong first-half results, founded on a profitable six months for its container terminal.

The port authority (ThPA) saw its net profit increase 62.3% to €13.6m ($15.2m) as all key business divisions generated double-digit increases in revenues.

Consolidated revenue increased 17.3% to €48.4m, according to the northern Greek port’s operator.

Revenues from container handling, which accounts for more than three-quarters of the port’s turnover, increased 16.7% to €34.3m.

But other activities also chipped in, with conventional cargo bringing in €10.9m, a 20.7% increase over the first half of 2023.

The real estate sector reported an 11% rise in income, and passenger traffic from cruise vessels and ferries more than doubled its revenues.

ThpA has been positioning Thessaloniki as a multi-gateway intermodal network and logistics solution provider for the Balkans and the broader southeast, central and eastern European region.

Capital expenditure during the first half of the year reached €2.8m, but is expected to expand in the second half of 2024 with purchases of new container-stacking equipment, as well as loading and unloading equipment.

“The dynamic start of 2024 highlights the progress in achieving our goals,” said executive chairman Athanasios Liagkos.

Management was “strengthening the leading role of the port of Thessaloniki in international trade, promoting connectivity, the development of the wider port community and the country,” he added.