Port activity evolution: the initial impact of economic crisis on major Greek ports

Abstract

The objective of this study is the quantitative analysis of recent developments in transport activity of the main Greek ports (Piraeus, Thessaloniki, Patra), in order to establish clusters of various transport load and time groups of growth and decline of the transport activity, regarding the period 2002-2010. From this latter approach, the investigation of any impact of the economic crisis in the evolution of transport activity can be explored.

The methodology used is based on forming clusters, to identify growth-recession periods, and groups of determining transport categories. Methods used are: Principal Component Analysis, Factor Analysis and Cluster Analysis.

The results show that the major port of Piraeus activity's evolution can be represented by two distinct periods. A growth period (2002-2004) which is related to the Olympic Games of 2004 and an instability period of the transport activity's evolution, which follows. The last 3 years a decrease for most of the transport activities has been encountered, due to the economic crisis. Considering the three main ports of the country, as a unit we realize a slightly differentiated picture, since, despite a distinct last period of decline, we cannot certainly shape the claim that during the previous years there is a strong positive influence in the other two ports by a developmental event like the Olympic Games. These findings could mean that the spatial developmental impact of the Olympic Games limited at the regional level. However the main findings for the Piraeus' port, mentioned beforehand, are still valid. A general conclusion, regarding the prerequisites of the increased competitiveness and efficiency of ports, refers to the investments in modern infrastructure, services and systems administration, the transport management in Greek ports and the development of a combined transport system.