Piraeus Port Authority operations and expansion

Piraeus Port Authority S.A. (OLP S.A.) has recently highlighted both its regulatory achievements and its ongoing infrastructure developments.

The company’s regulatory compliance unit received four honors at the Compliance Awards 2026, including two gold awards for ‘Best Compliance Team in Port Services Sector’ and ‘Best Compliance Awareness Activity’, as well as two bronze awards for ‘Best Compliance and Ethics Project’ and ‘Best Compliance Risk Mapping’. These awards recognize the organization’s commitment to corporate governance and transparency.

Simultaneously, the authority is advancing the expansion of Pier 6. Construction is operating on a 24/7 basis, with seven caissons installed and an eighth under construction. The project aims to increase the quay length from 568 meters to 1,081 meters and deepen the operational depth to 16.8 meters to accommodate major shipping lines. Project Director Dimitris Moutsakis noted that while progress is steady, active support from the State is necessary to prevent delays regarding issues outside the company’s control.

Financial reports for the first half of 2026 indicate a decline in performance. Total revenues fell by 8.9% to €111.9 million, while net profits after taxes decreased by 24.4% to €35.4 million compared to the same period in 2025. Management attributed this decline to lower performance at Pier I, impacted by a high baseline in 2025—when domestic cargo traffic rose due to global trade tariff concerns—and mandatory upgrades (5.5 and 5.7) that have temporarily reduced storage capacity and throughput.

Despite lower earnings, the company spent €106.7 million on infrastructure and equipment to enhance Pier I’s productivity in anticipation of increased cargo volumes following the full reopening of the Suez Canal. Total assets increased by approximately 8.3% to €746.8 million. Meanwhile, Piers II and III showed positive revenue trends due to improved traffic performance.