PPA S.A.: Supporting HELMEPA’s mission through the creation of the new “HELMEPA HOME” in Piraeus
PPA S.A. announces with great satisfaction its cooperation with the Hellenic Marine Environment Protection Association – HELMEPA, supporting the creation of the new “HELMEPA HOME” in Piraeus, a space dedicated to the sea, the marine environment, education, and the younger generation.
The agreement was signed by the CEO of PPA S.A., Mr. Su Xudong, the Deputy CEO of PPA S.A., Mr. Panagiotis Tsonis, the Chairperson of HELMEPA, Ms. Semiramis Paliou, and the Director General of HELMEPA, Ms. Olga Stavropoulou, marking a collaboration with meaningful social and environmental impact.
As part of this initiative, PPA S.A. is granting HELMEPA the use of premises at the Kastraki building in Drapetsona, making a meaningful contribution to the creation of a new, open home for the Association’s activities and programmes. The choice of Piraeus and the wider port zone carries strong symbolic value, connecting HELMEPA’s mission with the heart of Greek shipping and with a port that serves as a point of reference for the country.
The new “HELMEPA HOME” aspires to become a vibrant space for knowledge, environmental awareness, and participation. It will welcome students, young people, educators, seafarers, shipping professionals, and citizens, helping to deepen understanding of the value of the sea and the need to protect it.
For HELMEPA, this new home creates significant opportunities for the further development of its public-benefit work. It enables the Association to strengthen its educational programmes, broaden its engagement with the younger generation, and acquire a space worthy of its longstanding contribution to the protection of the marine environment.
The cooperation between PPA S.A. and HELMEPA is founded on shared values: respect for the sea, environmental responsibility, education, and service to society. Through this initiative, the two organisations join forces in support of a purpose with meaningful social and environmental impact.
The CEO of PPA S.A., Mr. Su Xudong, stated:
“For PPA S.A., supporting HELMEPA’s work is an initiative of particular value. The sea lies at the core of our activity, but also of Piraeus’ identity. Through the creation of the new ‘HELMEPA HOME’, we are contributing to the establishment of a space that will promote knowledge, environmental awareness, and love for the sea, especially among younger generations. We are pleased to support an organisation with such an important and longstanding contribution.”
The Chairperson of HELMEPA, Ms. Semiramis Paliou, stated:
“We envisioned a space where people of all ages connect with the sea. A space that brings together our work, our people, and our history under one roof. A space for ocean literacy, for the protection of the sea, for our maritime heritage. Today, this becomes a reality. HELMEPA HOME belongs to every member, every volunteer, every seafarer who has stood by us. We are grateful to PPA S.A. for its trust and for the cooperation that has brought us to this milestone. Through its presence, the Port of Piraeus becomes part of a legacy for Greek society, for marine life, and for our blue planet.”
With the support of PPA S.A., the new “HELMEPA HOME” will further strengthen Piraeus’ connection with the sea, environmental education, and social contribution, highlighting the importance of cooperation for a more sustainable future.
Piraeus upgraded to ‘AAA’ ESG Rating by MSCI
MSCI has upgraded Piraeus’ ESG Rating from ‘AA’ to ‘AAA’, which is the highest rating available by MSCI on sustainability.
This is the first time Piraeus has achieved the top score, positioning the Bank as one of the leaders in sustainability in the financial industry at international level.
The Bank has managed to consistently improve its position from the ‘BBB’ rating in late 2020, to a ‘AAA’ rating, being the only Greek company at this level currently. It is worth mentioning that only 18% of the global universe under MSCI ESG rating is now rated ‘AAA’.
MSCI ESG Ratings aim to measure a company’s resilience to long-term ESG risks. Companies are scored on an industry-relative ‘AAA’ to ‘CCC’ scale across the most relevant key issues based on their business model.
The upgrade highlights Piraeus’ advancements in several critical areas, building on its existing strengths and improvements in sustainability reporting, particularly its alignment with the EU Corporate Sustainability Reporting Directive.
These initiatives offer enhanced transparency regarding Piraeus’ management of environmental, social, and governance matters throughout its operations.
This recognition further reinforces Piraeus’ reputation among institutional clients and investors. As ESG ratings become increasingly significant in capital allocation decisions, MSCI’s upgrade highlights our ongoing advancement in integrating sustainability into our overall business strategy.
Piraeus Recognised as Greece’s Best Performing Bank in The Banker’s 2025 Rankings
Piraeus has been recognised as Greece’s Best Performing Bank in The Banker’s 2025 Top 1000 World Banks rankings, the globally respected benchmark of banking strength published annually by the Financial Times Group. Piraeus secured the top spot in Greece for overall performance, achieving #1 positions in both operational efficiency and return on risk.
The Banker’s Top 1000 World Banks performance rankings evaluate banks using a composite of metrics that go beyond Tier 1 capital. These include operational efficiency, asset quality, liquidity, and return on risk, offering a broader view of sustainable banking performance. The data is sourced from banks’ latest financial filings and assessed independently by The Banker’s editorial and research team. Used by central banks, strategists and senior decision-makers in 94 countries, it remains the most comprehensive measure of global banking strength, covering over 130 performance indicators and tracking $150 trillion in assets.
Christos Megalou, Chief Executive Officer of Piraeus, commented, “This recognition reflects the consistent, disciplined work across our organisation to improve efficiency, manage risk and deliver strong outcomes for our clients and stakeholders. Being ranked first in overall performance is a testament to our team’s efforts and to Piraeus’ strength, resilience and leadership in our primary market. It demonstrates that our strategy is working and that our commitment to long-term value creation is resonating both within Greece and internationally.”
The Banker notes that 2024 brought mixed results for European lenders, with pre-tax profits falling across the region and asset growth subdued. Greek banks, by contrast, have returned to profitability after a decade of restructuring, with Piraeus standing out for its strength in core performance metrics.
Piraeus’ performance in The Banker rankings follows a period of focused execution across the Bank, from operating discipline to risk-adjusted returns. Over the past year, Piraeus delivered strong profitability, recording a net profit of €1.1 billion in 2024 and a return on tangible book value of 15%. The Bank continued to strengthen its balance sheet, growing its performing loan book by a leading market rate of 12%, to nearly €35 billion. Assets under management continued to grow at more than 20% per year, currently above €12 billion. These results underline the significant progress made in reinforcing the Bank’s foundations and highlight its important role in supporting the Greek economy through stable, responsible, and forward-looking banking.
Piraeus agrees to enter into exclusive discussions with CVC regarding the acquisition of Ethniki Insurance
Further to the announcement on 03 February 2025, Piraeus Financial Holdings (hereinafter “Piraeus”) informs the investment community that it has agreed to enter into exclusive discussions with CVC Capital Partners’ Fund VII (“CVC”) regarding the potential acquisition by Piraeus of a 70% stake in Ethniki Insurance for €469mn (the “Potential Transaction”).
Post the completion of the Potential Transaction, Piraeus expects to diversify and further strengthen its revenue pool and to deliver significant value uplift to its shareholders.
Based on the above, the proforma impact on Piraeus’ capital position is estimated at approximately 150bps as at September 2024. This impact translates into a capital ratio with a comfortable Pillar 2 Guidance buffer of more than 200bps. Piraeus intends to pursue the potential adoption of the Danish Compromise in relation to the prudential treatment of its possible participation in the share capital of Ethniki Insurance, which, if attained, would reduce the capital effect of the Potential Transaction to below 100bps.
Ethniki Insurance is the #1 composite insurer in Greece, covering the whole spectrum of insurance products with a c.14% market share (c.17% in life / c.11% in non-life) and €0.8bn Gross Written Premiums, as of 2023. Ethniki Insurance has €4bn total assets and €0.4bn shareholders’ equity, as of 2023. Ethniki Insurance reported a profit before tax adjusted for non-recurring items of approximately €100mn in 2023.
Ethniki Insurance’s production network extends throughout Greece and consists of c.130 Sales Network Offices with more than 1.6k Corporate Network Insurance Agents, 1.1k Collaborating Insurance Agencies and c.135 Collaborating Insurance Brokers, supported by a network of 6 branches, as of 2023.
Piraeus is being advised on the Potential Transaction by UBS Europe SE as exclusive financial advisor, Milliman as actuarial advisor, and by Milbank LLP, as well as Moratis Passas Law Firm, as international and local legal counsels, respectively.
Piraeus will promptly inform the investment community in accordance with the applicable provisions should an additional reportable event arise.
Cyprus ferry connection to Piraeus possible by this summer
There will be a ferry connection between Piraeus port and Limassol with the possibility of a stopover at a Greek island, following an initial agreement between Cyprus Shipping Deputy Minister Natasa Pilides and Greek shipping officials.
And efforts are underway so that the ferry link is launched and available by this summer, Phileleftheros reports citing insiders.
Pilides and Greece’s Shipping Minister, Ioannis Plakiotakis, discussed in detail the action-plan for the ferry trip during a meeting in Athens last week.
Plakiotakis reportedly told Pilides that the further development of maritime links between the two countries is a mutual pursuit. He also made clear that both he, personally, and the Ministry’s technocrats are ready to assist the Deputy Ministry so that this goal is achieved.
Moreover, the Greek Ministry has assured that a slot will be granted at the port of Piraeus, and that an intermediate stop at a Greek island is very much a possibility.
And that Athens will assist Cyprus with logistics over passport control and health checks at both Piraeus and at the intermediate destination.
Still pending is the European Commission’s approval to the proposed state subsidy to be given to the successful bidder which is €5 million annually-for three consecutive years.
If the green light comes from the Commission does come, the bidding process should be launched by Easter time and contracts between the state and the participating company signed by summertime. The exact time the connection will start all depends on the month the agreement is signed, according to insiders.
The successful bidder will decide from which port the route will start – that is, either from Larnaca or Limassol.
The successful bidder should also set up an arrival centre at the intermediary point – possibly Rhodes or Crete. The duration of the trip is estimated at 30 hours.
As for the trip’s frequency, the minimum is once a week during the summer months of May-September and once every fortnight for the rest of the year.
Phileleftheros was told that investor interest is high. And that in addition to Cypriot companies, behind the scenes interest has already been expressed by companies in Greece as well as from other European countries.
The Cyprus-Greece sea connection was launched in the early 1960s, with ships departing from the port of Piraeus and arriving at Limassol and Famagusta ports, and then going on to Israel’s Haifa and whenever possible to Lebanon (Beirut) and Egypt (Alexandria).
The Cyprus-Greece port-by-port connection was suspended in 2000 since it had become unprofitable for ferry companies because of reduced passenger traffic.
Source: In Cyprus
MSC Lirica To Homeport In Piraeus For Summer 2021
MSC Cruises will deploy MSC Lirica to the Eastern Mediterranean market in summer 2021 and she will homeport in Piraeus (Athens), Greece for the entire season.
MSC Lirica will offer a newly-designed innovative itinerary 7-night cruises on 23 separate occasions between May and September 2021 from Piraeus calling Mykonos; Haifa, Israel; Limassol, Cyprus, Rhodes and Kusadasi, Turkey before returning to Piraeus.
Angelo Capurro, Executive Director, MSC Cruises said: “Since we first saw guests board our ships in Greece in 2003 our presence in the country has grown significantly and I would like to express our gratitude for the incredible support that the Greek travel trade has provided to help us build our business and success.
“The relationship with the travel agency community of Greece has developed at such a positive rate that we can all look forward to working together towards a busy summer 2021 when Piraeus will play a major role in our Eastern Mediterranean cruise programme with guests embarking there for the first time.
“As we continue to grow as a business and introduce more ships to our fleet then looking further ahead I’m confident that we will have a greater presence in Greece.”
MSC Lirica offers a distinctive cruise experience centred on elegance, comfort and hospitality with 992 guest cabins.An atmosphere of relaxed spaciousness pervades, with magnificent internal vistas from the foyer and unimpeded ocean views from the lounges’ floor-to-ceiling picture windows.
There is a choice of lounges and bars including the glamourous Beverly Hills Bar or traditional English-style Lord Nelson Pub, the perfect venue for a pre-theatre drink.
For families, there is a children’s play area created in collaboration with LEGO Group and Chicco as well as a spray park and two swimming pools plus a full programme of activities for kids of all ages.
The MSC Aurea Spa offers a haven for those wishing to unwind and, in the evening, the Broadway Theatre offers entertainment each night. And with two main restaurants, a buffet and the popular Kaito Sushi Bar, guests have a choice of formal or more casual dining options.
MSC Cruises plans to bring guests to Athens from Northern Europe and further afield on its MSC Fly & Cruise deals to embark its ships at the Greek port.
Greece Approves Part of COSCO’s Investment Plan for Piraeus
Greek Committee of Planning and Development of Ports (ESAL) has approved EUR 611.8 million (USD 673.3 million) worth of investments at the country’s Piraeus Port.
According to the Piraeus Port Authority, the funding for development works by Chinese shipping giant Cosco would cover all the business units of the company and would contribute to the development of the local and national economy.
Following the long-awaited approval, the implementation of significant investments would proceed in order to make Piraeus “the most important port in the Mediterranean,” according to Yu Zenggang, Chairman and Executive Director of PPA.
However, the proposal for an additional investment of EUR 300 million was put on hold. This funding is related to the development of a fourth container terminal in Piraeus. Local media cited ESAL as saying that the conditions for this additional investment “have not matured yet.” The authority reportedly invited the investor to resubmit the proposal at a later date.
“We hope that the competent authorities will soon review the expansion of the container terminal as it is one major investment that will establish the Piraeus port as one of the top container terminals in Europe,” Zenggang added.
COSCO officially signed a deal for the transfer of a majority stake in Piraeus Port Authority in April 2016.
Cyprus: Deputy Shipping Ministry aims for Cyprus-Piraeus ferry link by 2020
The Deputy Shipping Ministry aims to commence a ferry link connecting Cyprus with Piraeus by 2020, Phileleftheros reported.
According to Deputy Shipping Minister Natasa Pilidou the link will take place once a week between May-September and once every two weeks during the rest of the year.
The Ministry will soon submits an application for funding to the European Commission (EC) in order to finance the route.
It aims to complete all required procedures by the summer of 2020, depending on when the EC will respond to the application and interest by investors.
“If we we receive a response by the European Commission by autumn, we will be able to launch a call for bids after Christmas,” Pilidou told the House Trade Committee on Tuesday.
She added that there is increased interest by investors and that the ferry link will be partly financed by the state.
A cabinet-commissioned feasibility study on the ferry link has already been completed.
There have long been calls for the restoration of a ferry link between the two countries that ceased in 2000.
Previous efforts have stumbled on the problem of money, with feasibility studies indicating that such a link would not be financially viable.
But there have been renewed calls on the government to seek to find a solution, most recently by Disy, while an online petition to both the Cyprus and Greek governments has collected thousands of signatures.
In their petition addressed to the mayors of Limassol and Piraeus and the port offices of the two countries, the citizens said that airline tickets were often expensive, adding that there should be at least one ferry link between Cyprus and Greece, as a first step. This would bring medium and long term benefits to both countries, they said, boosting tourism, creating jobs and generating competition with airlines, thereby leading to cheaper fares.
Source: In-Cyprus
Ferries remain docked at Piraeus due to persisting high winds
Ferries will remain docked at the port of Piraeus, including hydrofoil services to the Argosaronic Gulf.
Ferries serving the Cyclades islands from the Rafina port harbor will also remain docked.
The port of Lavrion will remain closed today, while the ferry lines of Ag. Marina to Nea Stira, Kavala to Prinos, Keramoti to Limenas Thassos will remain inactive.
Passengers intending to travel today are advised to contact local port authorities and travel agencies ahead of their departure.
Source: ana-mpa