shipping
Greece
New COSCO Deal Creates 'Piraeus Free Zone' With VAT-Free Spare Parts for Shipowners
A new program offering Greek shipowners VAT-free spare parts is in the makings as the Chinese Shipping company COSCO has struck a deal with a Copenhagen-based logistics and transport provider creating what is called the Piraeus Free Zone.
COSCO, the...
Greece
Greece Could See Tremendous Profit from Japanese Shipping Companies Merging
On Monday three Japanese shipping companies announced their intentions to merge, which would result in creating the third largest company of shipping companies with regular container ship lines.
The move would be positive for the Greek port Piraeus as well...
Crime
Guilty: $1.5M Fine for Greek Shipping Magnate Evangelos Angelakos for Pollution and Cover-up
U.S. District Judge John Coughenour has fined shipping magnate Evangelos Angelakos a $1.5 million payout after a jury found two ships that are part of his company guilty of pollution on the high seas, the AP has reported.
The judge said it was...
Economy
Who Are the Greeks Affected by the Hanjin Fall Described as a Lehman Moment for Shipping?
"The fallout of Hanjin Shipping is like Lehman Brothers to the financial markets," said Gerry Wang, Seaspan Corp. Chief Executive Officer, adding that the fall of South Korea's biggest container line has impacted the shipping industry.
"It's a huge, huge...
Economy
Greek Shipowners Continue to Fly Greek Flags on Fleets Despite Obstacles
A number of Greek shipowners are supporting local shipping despite the economic crisis. Despite the more expensive price of bearing the Greek flag and the bureaucracy associated with this, they are continuing to operate on the local market. There...
Greek News
Greek Tanker is the First to Pass Through the Expanded Panama Canal! (video)
The Greek tanker, Aegean Unity, of Arcadia Ship Management was the first tanker to pass through the newly expanded Panama Canal on August 18th.
The tanker was awarded with an honorary plaque commemorating the occasion that saw the first...
Crime
Piraeus Court Acquits 17 in 'Noor 1' Drug Trafficking Case
The Piraeus Criminal Appeals Court acquitted 17 of the 32 defendants facing charges due to their involvement in the drug-laden "Noor 1" tanker that was intercepted after carrying 2.1 tons of heroin in 2014, whereas the others were handed...
Business
Prime Minister Tsipras Says End of Review to End Recessionary Cycle
The conclusion of the review of Greece's program will end the great recessionary cycle of recent years and open up a new chapter for the country, Prime Minister Alexis Tsipras said on Monday, at the inauguration of the Posidonia...
Economy
Sea Cruise Association Expects Less Passengers this Year
The Association of Cruise Shipowners and Shipping Agencies met with Greek Shipping and Island Policy Minister Theodore Dritsas and discussed developments in the port of Piraeus ahead of the summer season and government initiatives regarding migrants and refugees temporarily...
Business
Greek Deputy Foreign Minister Looks for Korean Investments in Greece
Deputy Foreign Minister Dimitris Mardas called on Korean entrepreneurs to invest in Greece, on Friday.
Mardas was speaking at the 2015 Greek-Korean business forum held at the Evgenidio Institute in Athens. Addressing Korean businessmen, Mardas underlined that Greece has made...