Greece's Piraeus Port posts lower nine-month earnings on weaker container and cruise activity

Nov 3 (Reuters) - Greece's Piraeus Port Authority on Tuesday reported lower revenue and profit for the first nine months of 2026, citing a reduction in container and cruise activity, though it said container handling showed signs of recovery in the third quarter.

The company said nine-month revenue fell 8.2% year-on-year to €178.8 million ($200.08 million), while net profit declined 21.5% to €59.7 million.

• Container handling at Pier I fell 27.8% year-on-year over the first nine months, though volumes rose 0.3% in the third quarter, the first positive quarterly performance of 2026

• The cruise sector recorded 584 ship arrivals in the nine months, down 16.3% from 698 a year earlier, with passenger numbers falling 19% to 1.3 million amid Middle East-related disruption

• OLP said container shipping through the Suez Canal was gradually resuming and expected full restoration of traffic by May 2027, supporting future container volumes

($1 = 0.8937 euros)

(Reporting by Antonis Pothitos; Editing by Alison Williams)