PortEconomics member George Vaggelas contributed to the 56th issue of the Port Technology International magazine with an article examining the new investment era of the Port of Thessaloniki, in Greece.
Radical changes in the world economy, and consequently in global transport systems, have altered the operational, organisational and, in some cases, ownership status of the port industry. Ports have become a capital intensive competitive industry, playing a crucial role in world trade, and by extension, in the world economy. In the case of European ports, two different approaches emerged in recent years. On the one hand, north European ports adopted new organisational models to increase their competitiveness, effectiveness and their ability to adapt to a speedily changing economic environment. On the other hand, south European ports took longer to adapt than their north European competitors. Spain, Italy and Turkey are among the countries that made reforms with positive results and an increase in their competitiveness.
George, currently an advisor to the CEO of the the Port of Thessaloniki SA, provides insight knowledge of the challanges that the Port of Thessaloniki atttempts to resolve, including an increased competition from the neighbouring ports (for example, Durres in Albania, Bar in Montenegro, Burgas in Bulgaria) serving the same hinterland. In an effort to maintain its market share and to gain back the cargoes that were lost during the turbulent period 2008 2009, the port authority developed an investment plan.
You can freely download George’s viewpoint @PortEconomics