Market News

Limassol port operator will be selected by March 2016

6.11.2015
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THE PRIVATE investors who will take over the commercial operations at the port of Limassol will be selected by March next year, reports said on Thursday.

The privatisation of the port was discussed during a meeting of troika technocrats and Port Authority officials. Farming out the port’s commercial operations to private operators is a condition of the island’s bailout agreement.

According to the state broadcaster CyBC, a firm timetable for the port’s privatisation has been set.

By December 31, the tender documents must be finalised. The bidders will then submit their final proposals by January 19, and […]

Suez Canal Opens After $8 Billion Expansion

7.08.2015
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In a blaze of hyper-nationalist fanfare, Egypt’s government has inaugurated an $8bn (£5.2bn) expansion of the Suez canal with an elaborate ceremony hailing the project as a national achievement.

The Egyptian president, Abdel Fatah al-Sisi, wearing his military uniform and trademark dark sunglasses in the sweltering heat, flew to the site on Thursday on board a military helicopter and immediately embarked on to a monarchy-era yacht that sailed to the venue.

The yacht was flanked by navy warships as helicopters, jet fighters and military transport aircraft flew overhead. A visibly triumphant Sisi stood on the […]

70 EoIs for Limassol port management

22.06.2015
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More than 70 firms have so far expressed an interest to bid for one or all three concessions of the privatisation of services at Limassol port, the island’s main port of call that accounts for 80% of passenger traffic and 70% of all commercial activity.

The tender document for the privatisation was published a week ago on the government’s e-procurement website www.eprocurement.gov.cywith the deadline set for midnight, August 12. Expressions of Interest must be submitted by July 17.
The contract notice concerns three potential opportunities for a services concession for the Container […]

Cyprus to seek commercial operator for Limassol port

15.06.2015
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Cyprus will invite expressions of interest by the end of this week for the commercial development of Limassol port, the island’s main port on the southern coast, the transport ministry said on Monday.

Authorities said three long-term contracts would be available for commercial operation of container facilities, a multipurpose terminal which includes passenger facilities, and sea services.

The transport ministry said it expected to complete the process by the end of the first quarter in 2016. Rothschilds was advising the Republic on the process, the ministry said.

“Our aim is to bring in experienced port operators who can […]