One of Turkey’s largest shipping companies is being relocated to Greece, as investments in the country reached a record level in 2024.
The decision, as reported by Turkish media, was communicated to employees in the last few hours, informing them that they will receive compensation as their contracts are expected to be terminated.
Park Group, also known as Ciner Holding, has decided to transfer the activities of the company, Ciner Shipping, to Greece and the Greek branch of the company will be operated by a company founded in Athens by Ciner Shipping CEO Vasileios Papakalodoukas, as reported by turkiyetoday.
In addition, CEO Papakalodoukas has reportedly resigned from his position and established a management company in Greece, which will manage Ciner’s fleet from Athens.
Ciner Shipping Fleet
Ciner Shipping has a modern and diverse fleet of 24 vessels with a total deadweight tonnage (DWT) of approximately 2 million metric tons (2.2 million tonnes), making it Turkey’s largest shipping company in terms of carrying capacity, gross tonnage and net tonnage.
Its fleet consists of 20 bulk carriers with a total tonnage of approximately 1.4 million tonnes and four Suezmax crude oil tankers with a total tonnage of 635,000 tonnes.
