The latest ISCDI report reveals a significant achievement for Greece’s maritime industry. Athens and its port, Piraeus, have climbed to an impressive seventh place among global shipping hubs, marking their highest ranking since the index began. This places Greece in an elite group of maritime powerhouses, competing with major global economic centers like Singapore, London, and key Chinese ports.
This upward trajectory in the rankings, moving from tenth place in 2019 to seventh in 2024, underscores Greece’s growing influence in the international shipping sector. The evaluation, conducted by respected institutions in the field, considered a wide range of factors across 43 major port cities worldwide. Greece’s consistent improvement in these rankings reflects its increasing importance and competitiveness in the global maritime industry.
Greece’s maritime industry is a cornerstone of both the national and European economies. The Greek fleet’s dominance is evident, comprising 60% of the EU-controlled fleet capacity, far outpacing Germany’s 12%. Greek shipowners have a commanding presence across various vessel types, controlling the majority of EU-operated bulk carriers, oil tankers, and LNG carriers, along with a significant portion of container ships. This prominence underscores the critical role of Greek shipping in maintaining the EU’s supply chain resilience. The industry’s economic impact is substantial, contributing $162 billion to Greece’s economy over a decade, equivalent to 7% of the country’s GDP. The sector’s robust performance was particularly notable in 2022, with maritime transport generating a record $23 billion in balance of payments inflows.
Furthermore, Athens is emerging as a hub for maritime technology innovation. The city hosts numerous tech startups collaborating with major shipping companies to develop cutting-edge solutions for fleet management. These innovations are not only enhancing local operations but are also being adopted by shipowners globally, further cementing Greece’s position as a leader in the international maritime industry.
The Port of Piraeus plays a crucial role in bolstering Greece’s standing in the global maritime industry. Recent years have seen substantial upgrades and investments, particularly from Cosco, which have significantly modernized the port’s infrastructure and expanded its operational capacity. The port’s performance in 2023 was notable, with its three container terminals collectively handling over 5.1 million TEU, reflecting a 2% growth from the previous year. This increase in throughput underscores the port’s growing importance in European maritime trade. Financially, the Piraeus Port Authority reported impressive results for 2023. The port saw a substantial increase in total revenue, reaching nearly 220 million euros, marking a significant 12.9% growth from 2022. Even more striking was the surge in profits after taxes, which rose by 26.3% to 66.8 million euros. These robust financial outcomes are a testament to the port’s successful strategies in enhancing revenue streams and improving operational efficiency. The Port of Piraeus’ strong performance not only reinforces its position as a key European port but also contributes significantly to Greece’s overall standing in the global shipping industry.
