Thessaloniki Port posts EUR14 mln profit in 2016

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The Thessaloniki Port Authority announced net profits of 14 million euros for 2016, with pre-tax profits reaching 21 million euros. Turnover fell by 5.54 percent to total 48 million euros.

Container traffic at the northern Greek port dropped by 2.11 percent in 2016, yoy, while bulk cargo fell by 17.39 percent in volume. Commercial exploitation of port facilities yielded increased turnover by 16.8 percent.

The port authority’s results were negatively affected by 32 straight days of strikes in the first half of 2016, along with the border blockade of a rail line connecting Greece with the former Yugoslav Republic of Macedonia (fYRoM) by third country nationals.

Greece’s privatization fund (HRADF) recently accepted a bid by an international consortium for a 67-percent stake in the port authority.

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