Although the shipping and port industry is facing significant global challenges, operations at the Eurogate container terminal at Limassol Port are progressing at a highly satisfactory pace. Eight years after privatization, it has become evident that this move has significantly contributed to the development of Cypriot trade and the enhancement of state revenues, stated its Chief Operating Officer, Mr. Alexandros Demetriades. "In 2023, state revenues exceeded €40 million" he added.
The Chief Operating Officer of Eurogate Limassol pointed out that the port has entered a new era, as investments exceeding €30 million have contributed to technological upgrades and the automation of operations, resulting in a radical transformation of its functionality. "We have significantly reduced service times, ensuring a high level of service provision. All operations are carried out using tablets through Eurogate's software, while we are electronically connected to Customs, allowing container deliveries to be completed in just 20 minutes instead of the previous two-day process. Through Infogate, we provide our customers and transporters with full updates on whether their cargo has arrived, avoiding unnecessary delays."
The newly installed, state-of-the-art gantry cranes enable the simultaneous loading and unloading of two containers, doubling service speed. Eurogate Limassol faces a range of challenges, with sustainable growth in the shipping sector being a top priority. Key challenges include the energy and green transition and the reduction of emissions in line with the European Green Deal. "A significant sustainability factor for large businesses is the adoption of ESG criteria as well as green taxation. We must also recognize the crucial role that technology plays in business," said Mr. Demetriades, emphasizing that technological upgrades are ongoing. "We have implemented a digital upgrade of the terminal, participate in research programs, and monitor international trends in Artificial Intelligence (AI) to integrate them into terminal operations," he added.
Another crucial factor is geopolitical developments and their potential impact on trade. "We are also monitoring the restructuring of major shipping alliances (such as MSC, Maersk, and Hapag-Lloyd) and how they will affect the existing routes served by Limassol Port. Finally, the lack of experienced personnel in the labor market for technical professions is a concern for our industry," noted Mr. Demetriades.
The ongoing conflicts in the region and in Ukraine have not left the trade sector unaffected, along with the instability in the Red Sea caused by Houthi attacks. "This situation caused massive delays in cargo arrivals, but it did not significantly impact us, as the market quickly adapted to the new circumstances," he commented.
Regarding fees, increases, and their impact on ship visits to the Limassol Port, the Chief Operating Officer of Eurogate explained that there is often a misconception. He clarified that fees and any increases are predetermined based on the management agreement made with the state in 2017, meaning that the managing company does not have full control over their determination. He added that any increases have not negatively affected operations; on the contrary, ship traffic at the port has been consistently increasing in recent years. "In 2022, 608 ships visited Limassol Port, handling 215,000 containers, compared to 743 ships in 2023 with the same container volume. In 2024, the number of ships visiting Limassol Port exceeded 800, with container volumes surpassing 250,000."
Eurogate recently completed the upgrade of the yard's surface, increasing the terminal's total capacity to 12,000 TEU containers, further improving service levels and overall terminal efficiency. For the 2025-2026 period, plans include further upgrades with new technologies and the use of Artificial Intelligence. The installation of OCR (Optical Character Recognition) cameras on gantry cranes and other strategic locations is expected, enabling damage recognition and container number identification. Eurogate aims to implement TwinSim technology, which allows interactive visualization of the yard where containers are stacked. Additionally, a more advanced management system for refrigerated containers is expected to be implemented, enabling recipients to track their location via GPS and monitor temperature settings.
Finally, an automated entry gate system using X-rays is expected to be introduced, allowing trucks to enter for cargo pick-up or delivery using a code, eliminating the need for paperwork and significantly reducing service times.
Eurogate Limassol is also actively engaged in Corporate Social Responsibility initiatives, supporting the environment, sports, and children. It participated in the Ride to Green initiative for sustainable mobility and the Sea Festival 2024. "We want to strengthen the connection between the people of Limassol and their port, and we are working towards this goal," concluded Mr. Demetriades.
