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Tag Archives: privatisation

Piraeus Port Authority’s privatisation inches closer

The Piraeus Port Authority looks set to be finally sold off

The ongoing saga regarding the privatisation of Piraeus Port Authority appears to be almost over, with Greek officials offering a €500m (US$545m) valuation of the port to creditors according to The Wall Street Journal. Greece’s deputy prime minister, Yanis Dragasakis, also told China’s official state news service Xinhua that the government will sell its majority share in the port. Dragasakis ... Read More »

DP World faces huge rent increase at the Port of Melbourne

The Port of Melbourne have proposed a huge rent increase

The Port of Melbourne Corporation has notified DP World Australia that it wants to increase rent at the West Swanson terminal it operates by over 750%. DP World’s rent would rise from AU$4m (US$3m) a year in 2014 to AU$31m (US$24m)  a year from 1 January 2015 and AU$60m (US$47m) from 1 July 2016. It was notified of the increase on ... Read More »

UPDATE: New Greek government halts Piraeus port sale to China’s Cosco Group

The Piraeus Port Authority looks set to be finally sold off

Greece’s newly elected government, a coalition formed by the left-wing Syriza and the right-wing Independent Greeks party, has begun its programme of anti-austerity measures by halting the privatisation of the country’s biggest port, Piraeus. However, within days of the announcement, speculation abounded over whether the Greek stance would soften, with Chinese commerce ministry spokesperson, Shen Danyang saying: “We plan to ask ... Read More »

Three investors set to bid for Port of Melbourne

The Port of Melbourne is in the process of privatisation

Three infrastructure funds plan to bid for the Port of Melbourne, according to an anonymous source who Reuters said has knowledge of the bidding process. The sale is estimated to be set to raise A$5bn (US$4.3bn) for the State of Victoria. The likely bidders are: pension fund IFM Investors; QIC Ltd and a consortium comprising Hastings Funds Management and Wren ... Read More »

Massport says it needs investment to handle larger ships

Massport claims it needs extra funds in addition to the US$216m it was allocated for dredging

Quasi-public agency Massport, which is responsible for operating ports in Boston, has said that it needs between US$100m and US$200m by 2022 to cope with the predicted increase in the size and number of vessels calling at its port. To raise the money, the agency is considering privatising the port or selling part of it to property developers. The other ... Read More »