World News
New Greek Government Halts Sale of Piraeus Port
Greece’s newly elected government Tuesday called a halt to the sale of key European bunkering location Piraeus port, Reuters reports.
“We will not sell a majority stake in Piraeus port," said Thodoris Dritsas, Deputy Minister for shipping.
A 67 percent stake in the port had been slated to be sold under one of the austerity measures the previous Greek government had agreed to take.
This, and other infrastructure assets, were to be sold as conditions for receiving funding from the European Union (EU) and the International Monetary Fund (IMF).
It is understood that the previous administration had shortlisted COSCO Group and four other potential buyers and binding bids were due to be submitted this month.
"The COSCO deal will be reviewed to the benefit of the Greek people," said Dritsas.
COSCO is said already to manage two of the port’s cargo piers.
Last year COSCO announced it would invest heavily in Piraeus, with the Chinese Premier Li Keqiang saying "the port of Piraeus can become a Chinese gateway to Europe."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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