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Aggressive Balkan Expansion Of Thessaloniki Port Starts With An Intermodal Dry Port In Sofia

Aggressive Balkan expansion of Thessaloniki Port starts with an intermodal dry port in Sofia

Thessaloniki, Greece (PortSEurope) November 13, 2020 – Thessaloniki Port Authority (ThPA) has started a hinterland expansion with its first intermodal terminal (dry port) in the capital of neighbouring Bulgaria (in Iliyantsi/Ilianci, Sofia). The dry port, to controlled by subsidiary ThPA Sofia, is part of the port’s strategy to become a gateway to the Balkan region. It is located 230 km north of the port and
will be linked by train directly to the Port of Thessaloniki, providing competitive transit times and costs. The new dry port aims to become an important trade hub and a modern development centre, which will be linked by train with a range of dry ports in South-Eastern, Eastern and Central Europe. It will play a decisive role in strengthening the export activities of a wide range of businesses, according to a ThPA statement. The Executive Chairman of the board of directors of ThPA, Athanasios Liagkos, said: “ThPA continues to implement its strategy consistently and rapidly. The dry port in Sofia is indeed a particularly important historical, as well as development milestone for the Port of Thessaloniki. It is the first dry port from a series of similar ones that we will create in the wider Balkan region”. “Our goal is none other than the development and offering of reliable, modern and competitive intermodal services to our customers and the important contribution of our company in shaping the conditions for the growth of our country”. In the first half of 2020, total revenues of ThPA were €34.29 million, compared to €32.95 million in the same period of 2019, an increase of 5.3%. The increase is due to additional revenues from the container terminal of €2.9 million (14.3%) and the reduction of revenues from the conventional cargo terminal by €1.2 million (-10.3%). Total operating costs increased by 12.3% due to compensation paid to executives who resigned in accordance with the decisions of the Ordinary General Meeting in June. Thessaloniki Port Authority (ThPA) was privatised in March 2018 and is now operated by South Europe Gateway Thessaloniki (SEGT) Ltd, a consortium, in turn, owned by Germany’s Deutsche Invest Equity Partners (DIEP) with a 47% holding; France’s CMA CGM (Terminal Link) 33% and Savvidis Group (Cyprus-registered Belterra Investments) 20%. Terminal Link is 49% owned by China Merchants Port Holding, which is controlled by the Chinese state. For more information about the controversial Russian and Chinese involvement in the Port of Thessaloniki, read our analysis – Thessaloniki port seeks exit from Piraeus shadow; Chinese and Russian interests. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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