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Piraeus port: Normalization of conditions in the supply chain

Many companies were forced to cancel or reduce some of their itineraries

The itineraries of the container ships were carried out normally leading to the normalization of the conditions in the supply chain during the six-month period, according to market executives.

Many companies were forced to cancel or reduce some of their itineraries (blank sailings) over the previous period, due to reduced demand, causing disturbances in the port infrastructure.

Market analysts pointed out, however, that the global economy continues to be affected by the complicated situation of the war in Ukraine and rising inflation, as well as major imbalances in trade flows between different regions of the world.

According to data published by Cosco Shipping Ports, a total of 407.6 thousand containers were handled from piers II and III of the Piraeus Container Terminal in June 2023 compared with 357.6 thousand in the same month of 2022, up 14%.

Between January and June 2023, container handling showed a 4.9% increase compared with the same period in 2022. A total of 2,248.2 million containers were handled in the six-month period of 2023, compared with 2,144.1 million in the corresponding period of 2022.

The total handling of containers in the 35 ports controlled by Cosco Shipping Ports, a member of the Cosco Shipping Group, increased by 0.8% on an annual basis.

Among the ports that showed a strong recovery this month was the Shanghai Mingdong Terminal, which saw a strong rise after the problems caused last year by the COVID pandemic.