Greece to Put Up Two Biggest Ports for Sale

Majority stakes at two of Greece’s major seaports may be offered for sale after all, as the country’s Syriza-led government tries to alleviate the pressure from lenders and clear way for bailout funds, Reuters reports.

The leftist Syriza party led by Prime Minister Alexis Tsipras tried to avoid selling national assets as stipulated in the EU bailout program, but the cash-starved government started making concessions to its EU partners and the IMF as of lately.

The decision to sell the majority stakes at the port of Piraeus and port of Thessaloniki is not final, but the government officials have discussed the sale in a move to reach a deal with the lenders.

Back in January, the Syriza-led government stopped the sale of a majority stake in the port of Piraeus, for which the old government already shortlisted China Ocean Shipping Company (Cosco) and four other companies.  

Greece’s Minister of Economy George Stathakis said that the government still does not want to sell a majority 67% stake in the Piraeus port, but investors in a joint venture where Greece still keeps a significant stake are welcome.

World Maritime News Staff;