APMT looks to purchase two Greek ports

The state-owned ports of Piraeus and Thessaloniki are potential targets for privatization in a new bailout deal with the European Union, according to reports from Reuters and Maritime Executive.    APM Terminals, the terminal operator arm of Danish shipping conglomerate AP Moller-Maersk, is looking to purchase two currently state-owned Greek ports, according to reports from Reuters and Maritime Executive.
   Greece has been feverishly negotiating with the rest of the European Union in order to remain a member of the economic union, receive continued financial support and continue to use the euro as its official currency.
   If the two sides come to terms on a new bailout deal, it could include the privatization of the ports of Piraeus and Thessaloniki, which has attracted the interest of APMT.
   “Yes, we are interested in the Greek ports of Piraeus and Thessaloniki and are pursuing them as part of our growth plans,” said Francois Delenclos, VP of business development at APM Terminals. “Our interest has been consistent throughout the economic and political cycles of the country.”
   State-owned Piraeus Port is the largest cargo port in the country and its majority sale was included in a privatization plan agreed to by Greece in a 240 billion euro bailout plan from the EU and International Monetary Fund. Chinese-owned terminal operator COSCO Pacific has handled two of the port’s cargo piers since 2008.
   Greek Prime Minister Alexis Tsipras stopped the privatization process after coming to power in January, but agreed to continue as part of negotiations that had stalled for nearly four months.
   According to online news outlet Maritime Executive, Piraeus Port’s Chief Executive Yiorgos Anomeritis had opposed the sale of a majority stake in the port, preferring it remain in state hands, but the port announced last Wednesday he will be stepping down as CEO. Anomeritis has been in his position since 2009.
   European Union finance ministers have given Athens a Wednesday deadline to pass new conditional reforms in order to remain on the euro.
   Finnish Finance Minister Alexander Stubb told reporters at a summit of euro zone leaders Sunday the latest Greek bailout deal, “has far-reaching conditionality, on three counts: number one, it needs to implement laws by July 15. Number two, tough conditions on for instance labor reforms and pensions and VAT and taxes. And then number three quite tough measures also on for instance privatization and privatization funds.”
   “And for us the most important thing is that…this whole package has to be approved by both the Greek government and the Greek parliament and then we’ll have a look,” added Stubb.