Reporting on the expected privatisation of Greece’s largest port recently, our reporters turned to the Port of Piraeus’ website (www.olp.gr/en) for some background information.
They were surprised to find that, while the company thought it necessary to provide facts dating back to 2600 BC, it didn’t feel compelled to provide any information later than 2004.
While no one wishes to belittle the value of ancient history, more up-to-date material in this case would have been equally, if not more, useful.
Take for instance the fact that Chinese container terminal operator Cosco won a 35-year concession in 2009 to operate Piers 2 and 3. Since then, it has invested $1 billion in the port, increasing container traffic from less than 500,000 containers in 2008 to more than 3 million currently.
It has also installed 11 new loading cranes that, according to the Wall Street Journal, put the Port of Piraeus on an equal footing with Europe’s three busiest container ports – Rotterdam, Antwerp and Hamburg.
All of this, we modestly suggest, might have been worth a mention. But we did appreciate the history lesson.