The Turkish economic group „Park Group“, also known as „Ciner Group“, has decided to transfer its shipping company „Ciner Shipping“ to Greece, „Türkiye Today“ reports.
The decision has already been communicated to the company's employees. The Greek company, established in Athens, will be managed by the current CEO of „Ciner Shipping“ Vasilios Papakalodukas, Turkish media reported.
Last Friday, employees were informed by email that their contracts would be terminated with the right to full compensation. CEO Papakalodukas is said to have resigned from his position at the Turkish company and set up a management company in Athens that will manage the „Ginner“ fleet from Athens.
„Ginner Shipping“ operates a modern and diverse fleet of 24 vessels with a total deadweight tonnage (DWT) of around 2 million metric tons, making it the largest Turkish shipping company in terms of capacity, gross and net tonnage. Its fleet consists of 20 bulk carriers with a combined tonnage of around 1.4 million tons and four Suezmax crude oil tankers with a total carrying capacity of 635 thousand tons.
„Türkiye Today“ also reported that the Turkish group „Doğuş Holding“ has sold its 33.75 percent stake in the iconic Astir Palace hotel in Athens for $150 million to Greek shipowner Giorgos Prokopio.
„Astir Palace“ was sold in 2017 to a consortium including „Doğuş Holding“ and companies from Abu Dhabi, Qatar and Kuwait.
The hotel is located in the tourist area of the Greek capital's coast on a peninsula with two beaches and a marina with a capacity of 120 vessels.
„Türkiye Today“ notes that in recent years there has been a significant increase in Turkish investments in Greece. According to the Turkish Central Bank, by 2024, Turkish direct investments in the country will have reached 548 million. dollars.
There is also growth in passengers on the established ferry lines between the two countries. In 2024, they reached 1,143,727, compared to 416,000 in 2022 and 804,000 in 2023.