Piraeus container throughput returns to growth in third quarter

Container throughput at Pier I of the Port of Piraeus returned to growth during the third quarter of 2026, despite remaining significantly lower across the first nine months of the year.

Piraeus Port Authority (PPA) said third-quarter throughput at Pier I increased by 0.3%, or 524 TEUs, compared with the same period in 2025. This marked the terminal’s first positive quarterly performance of 2026.

Volumes improved more strongly during August and September, rising by 11.5%, or 10,161 TEUs. PPA attributed the recovery partly to new container-handling agreements with Piraeus Container Terminal and Pier I’s main customer.

The agreements took retroactive effect from July and include revised tariffs and handling volumes. During October, Pier I handled five additional containerships and 7,843 TEUs under the agreement with Piraeus Container Terminal.

Nine-month container volumes remain lower

Despite the third-quarter recovery, Pier I handled 394,338 TEUs during the first nine months of 2026. This represented a 27.8% decline from 546,399 TEUs in the corresponding period of 2025.

Local container volumes fell by 34.1% to 131,799 TEUs. Revenue from Pier I decreased by 26% to €34.8 million, while the segment recorded a pre-tax loss of €3.9 million. In the same period last year, Pier I generated a pre-tax profit of €6.5 million.

However, revenue from the concession of Piers II and III increased by 3.2% to €70.7 million. During the third quarter alone, concession revenue rose by 9% compared with the same quarter of 2025.

PPA revenue and profit decline

PPA’s total revenue decreased by 8.2% to €178.8 million during the first nine months. EBITDA fell by 16.9% to €92.6 million, while profit after tax declined by 21.5% to €59.7 million.

In the third quarter, revenue reached €66.9 million, down 7% year on year. Net profit fell by 17% to €24.3 million.

PPA invested €126.6 million during the nine-month period, an increase of 84.5% compared with the previous year.

The port authority said geopolitical developments in the Middle East affected container demand and trade flows, particularly during the first half of 2026.

PPA added that the return of containerships to the Suez Canal was becoming more established during the fourth quarter. The company expects canal transits to increase over the coming months and estimates that traffic could fully recover by May 2027.

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