PCT - Captain Wang Jihang: Responding promptly and flexibly to market needs

"PCT’s goal is to transform Piraeus into the southern gateway to Europe. From 2009 to 2023, the fiscal benefit (including concession fees, taxes, insurance contributions, etc.) amounts to 961 million euros", Captain Wang Jihang said.

The full interview:

Can you brief me on PCT’s major achievements here in Greece?

Since October 2009, Piraeus Container Terminal (PCT) has been developing and managing the facilities of Piers II and III of the container terminal at the Port of Piraeus for a period of 35 years.

It is a subsidiary of COSCO SHIPPING Ports Limited (former COSCO Pacific Limited), the world's leading container terminal operator. In 2009, COSCO Pacific Limited signed the Concession Agreement for the expansion, reconstruction, and management of Pier II, as well as the construction and management of Pier III at the Port of Piraeus.

Over the past 14 years, Piraeus Container Terminal (PCT) has been committed to continuously investing in upgrading terminal facilities and equipment, helping Greece's largest port to become a leading transit hub in the Mediterranean region, and making Greece and Piraeus port a Southeast Asian gateway to the rest of Europe: The most attractive and competitive commercial and shipping center in Europe and the Mediterranean.

Since 2010, PCT has invested a total of approximately 600 million euros, mainly for port construction (Pier III was only sea when PCT took over operation), purchase of equipment, upgrading of original equipment, employee training and work safety. By implementing infrastructure modernization, allocating high-quality human resources, and making full use of the port's geographical advantages, PCT's competitive advantages are highlighted: stable operation, shortened stay-time in port, the ability to simultaneously serve four large container ships of capacity 20,000 TEUs and above, as well as a rail network directly connected to other countries in the EU.

PCT's investment has brought immense development opportunities to the container terminal of Piraeus Port. The high quality of provided services, combined with high operational efficiency have attracted the three major global alliances to become long-term customers of PCT. Today, the annual container throughput with a volume of more than 5 million TEUs, has placed Piraeus Port among the 40 largest Container Terminals in Europe, when back in 2010 it ranked in 93rd position. PCT is a leading container terminal in the Mediterranean region and next to the top ranking ports of Rotterdam, Antwerp and Hamburg in Europe. These rankings have increased the reputation of Greece and have greatly contributed towards the country’s economic and social development.

What kind of contribution has PCT made to Greek economy and the local community in general?

In addition to its contribution towards upgrading the position of Piraeus and Greece on the world map of maritime container transportation, PCT contributes significantly to the Greek economy, in terms of public revenues, supporting domestic business and increasing employment. From 2009 to 2023, the fiscal benefit (including concession fees, taxes, insurance payments, etc.) amounts to EUR €961 million. For the 2023-2024 biennium, the Company has signed contracts totaling EUR €255 million with more than 600 suppliers, primarily from the local community.

Over the past 14 years, the Company has created more than 2,500 direct jobs becoming together with its subcontractors, among the largest employers in the Balkans.

Apart from investment expenditures, focusing on Social Welfare, Education, and the Environment, since 2011, PCT has been implementing a CSR program amounting to €600,000 to support educational and charitable institutions, non-profit organizations, and vulnerable groups in the greater Piraeus area. With the expansion of activities this year to include civil protection purposes, the total amount for social responsibility actions is expected to exceed €775,000.

How does your Company respond to the increasing demands of ESG, specifically in terms of low-emission/carbon operations?

PCT places great emphasis on the use of energy resources, demonstrating its commitment to environmental responsibility and sustainability. The Company has implemented a comprehensive strategy to optimize energy efficiency across its operations, investing extensively in the development of infrastructure and mechanical equipment to improve sustainability metrics, production capacity, increase automation of specific processes, and ultimately provide high-quality services. Today, PCT has a fully electric fleet of 30 Quay Cranes (QCs), 22 Rail Mounted Gantry (RMG) Cranes, and 45 Electrified Rubber Tired Gantry (eRTG) Cranes.

As part of continuous improvement, a telemetry project was completed in 2022 to monitor the energy consumption of the equipment. This system provides real-time and monthly electric energy consumption data for all port equipment. The availability of data allows the Organization to record energy consumption and correlate it with machine productivity. In 2023, the telemetry project was expanded and completed to monitor the energy consumption of the Company’s building facilities, further contributing to the improvement of the Organization's energy management.

In terms of equipment, the Company plans to procure 10 fully electric tractors within the year to gradually strengthen the fleet with more environmentally friendly vehicles. At the same time, a tender process has begun for the procurement of four new fully electric eRTG Cranes which will be installed in the upgraded eastern part of Pier III at the Terminal.

Additionally, the Company has already conducted a study for the installation of photovoltaic panels on the roofs of four large Company buildings to produce green electricity and reduce the overall energy consumption from the grid.

To continuously improve energy efficiency and overall carbon footprint reduction, PCT has prioritized the connection of its facilities with the High Voltage grid, with a plan to invest EUR € 9 million for the construction of a High Voltage Substation to provide shore power to docked ships (cold ironing). Moreover, the project to construct 12 positions for shore power at the Station, transforming the port of Piraeus through the construction and operation of modern energy and environmental infrastructure, amounts to €39 million. This project reinforces the Organization’s commitment to provide the best and most efficient services to its customers, in a sustainable and responsible manner.

The use of Information and Communication Technologies also plays a significant role in the Organization's progress in overall ESG performance. In collaboration with PCT’s Process Excellence department, automated and digitized applications are integrated into the Company's operational model, simplifying and speeding up processes, protecting employees, ensuring transactions, and reducing costs and the Terminal’s environmental footprint.

How would you comment on the Red Sea Crisis?

The crisis in the Red Sea creates a situation that requires close monitoring of developments as well as operational readiness to respond timely and flexibly to the needs of the market and our customers. Our Organization's operational model, which primarily relies on the high performance and dedication of our employees, has proven in the past that it can absorb such shocks.

What are the future plans of PCT for Piraeus?

In terms of future planning, the Port of Piraeus will continue to uphold the concept of mutual benefit and win-win. It will not only strive to maintain the position of the Port of Piraeus as a leading container transshipment port in the Mediterranean region, but also further build and develop China-Europe land and sea Express, relying on Diamond Express, will build the Port of Piraeus into the southern gate of Europe and the most important logistics distribution center in the EMEA region, providing a full range of port services and solutions to global customers.