18 April 2024 (Lloyd's List) - THESSALONIKI port in northern Greece has posted an increased profit for 2023 on the back of a strong performance by a container terminal slated for further expansion.

Throughput of 520,048 teu was an all-time record and saw the terminal’s revenue increase by more than 12% to €59.8m ($63.8m), the Thessaloniki Port Authority, known as ThPA, said in a results statement.

The port also enjoyed significant revenue growth from real estate and from cruise and ferry traffic last year, with only conventional cargo activities slumping, with a 21.5% decrease in revenue.

While revenues overall only increased marginally, to €85.9m, ThPA posted an after-tax profit of € 20.3m, up 8.9% compared with 2022.

The port also announced that its board of directors has accepted a joint venture between construction groups Metka and Tekal as preferred bidders to expand the infrastructure of its Pier 6 project.

The consortium was among four groups vying for the contract that tabled expressions of interest last December.

The next phase of work follows a contract for the marine works on Pier 6, that will give the port the ability to serve ultra large container vessels of up to 24,000 teu capacity.

The expansion of Pier 6 has been projected to generate annual revenues of €272m throughout the port supply chain, including co-operating companies such as suppliers and other businesses in the transport sector.

Since 2018, Thessaloniki has invested more than €71.3m to upgrade equipment, infrastructure, services and train human resources.

“The implementation of the development plan and the initiatives of ThPA are constantly strengthening the role of the port of Thessaloniki in the global port sector,” said executive chairman Athanasios Liagkos.

The port’s plan aimed to “promote maximum satisfaction of all stakeholders of the port and facilitate the wider port community, focusing on development and driven by sustainability,” he said.