TZITZIKOSTAS: A key priority for the Greek Commissioner responsible for sustainable transport and tourism is the north-south rail and road corridor that will connect Greece with Bulgaria and Romania.
As he emphasized, in practical terms, this corridor will link the Aegean Sea with the Black Sea, bringing the country not only economic and significant geopolitical benefits but also enhancing its standing.
As Apostolos Tzitzikostas noted during a meeting with Greek journalists, the MoU between Greece-Bulgaria-Romania has been signed, and an action plan has been drawn up, with work proceeding normally on the technical side, while on the political side, issues have arisen due to political developments in Romania, until recently, and subsequently in Bulgaria.
Recently, 277 million euros were allocated to begin work on the Alexandroupoli–Pythio railway line. The project is funded by both the EU and the Greek government, and the goal is to complete the entire project by 2040, although some estimates suggest it could be operational sooner, as much of the infrastructure is already in place.
NEW DEMOCRACY: Antonis Samaras may be pulling all the strings against Kyriakos Mitsotakis and the government, but the line from the Maximos Mansion is to keep the tone low-key—as much as possible—toward the former prime minister.
Understandably, Deputy Foreign Minister Haris Theocharis’s characterization of the Messinian as “far-right” was condemned by government spokesperson Pavlos Marinakis:
As he noted, such characterizations do not contribute to public discourse. “It is best to avoid them in general, and especially when speaking of a former party president and former prime minister of the country, who comes from our own political camp.”
He added: “He may have been expelled at this point. We may have differences of opinion on issues that primarily concern our national affairs. We have responded, and I believe adequately, but such characterizations offer nothing.”
Makis Voridis also took a swipe at Antonis Samaras: “That ‘I want to,’ the voluntarism, ‘I want to do this because I haven’t found anything else’ or ‘we didn’t reach an agreement’—is not enough to form a party, ” he argued, adding that even if the former prime minister proceeds with founding a party, the problem will mainly lie with the parties to the right of New Democracy.
In any case, the prime minister’s staff will have their eyes fixed on Heraklion today, from where Mr. Samaras will launch a new salvo, while it is not out of the question that he will outline the direction of the new party that appears to be just around the corner.
NIKI: Wherever he goes, Dimitris Natsios dismisses the possibility of his party collaborating with other right-wing parties. In fact, in response to a scenario suggesting he might join the national ticket of the Greek Solution party, the Macedonian professor was clear:
“Nonsense. It doesn’t fit my character. For thirty-five years, I taught my students honesty and integrity. I won’t disgrace myself in my old age, ” he emphasized pointedly.
He also made it clear that, despite the recent departures of two or three key figures, organizational preparations are continuing and candidate lists are being drawn up so that Niki can run “definitely independently and self-sufficiently in the elections.” And may God lend a hand!
KAMMENOS: And amidst it all, Panos Kammenos confirmed that… he is looking to make a comeback. In a television interview (on OREN), he appeared open to the possibility of collaborating with Maria Karistianou, while he did not rule out the possibility of joining forces with Kyriakos Velopoulos.
When asked, however, if he would participate in the upcoming elections, he replied , “I won’t run on the first Sunday; besides, a government won’t be formed. On the second Sunday, I would run if a government were to be formed so that the country does not remain without a government.”
Another one for our boat, as the late Aliki used to say in “Mantalena.”
SUPREME COURT: A race against time is underway at the Supreme Court to make public today the Plenary Session’s decision on the Katseli Law loans. Otherwise, this will happen early next week.
The timing is not as important as the fact that the decision favors borrowers, who now have a court ruling in their hands under which interest is calculated on the overdue installment rather than the total principal.
According to this column’s information, the ruling affects approximately 70,000–80,000 borrowers who hold the relevant court rulings.
The impact on Heracles, given that the majority of these loans have been securitized, amounts to €1 billion. As for its retroactive effect, it will not be reflected in the final version of the ruling, according to judicial sources.
However, as sources from the servicers argue, borrowers will challenge it again in the administrative courts. The Hellenic Debt Management Agency (HDMA) notes that the loss to Heracles is manageable and will be spread out over time.
SHIPPING: The significant influence Greek shipowners maintain in the major international shipping registers was highlighted by the awards presented to Haris Vafeias and Antonis Komninos by the flags of Liberia and the Marshall Islands on the sidelines of the Posidonia exhibition.
Haris Vafeias’s group was honored by the Liberian registry for its contribution to the flag’s growth, as it has expanded from one ship in 2011 to currently operating 48 vessels under the Liberian flag, with Vafeias himself announcing that this number will soon rise to 60.
The head of the Liberian Registry, Alfonso Castillero, praised the Greek shipowner as an example of combining traditional Greek shipping entrepreneurship with a more dynamic and innovative approach. “He built a fleet of 100 ships without borrowing a dime before my hair turned gray, ” he remarked characteristically.
At a separate event, the Marshall Islands presented Antonis Komninos with the “Captain Xenakoudis Excellence in Shipping Award, ” recognizing his longstanding relationship with the registry and his contribution to the shipping industry.
These honors underscore the dominant role of Greek shipowners in the world’s two largest registries.
According to data from the Hellenic Committee for Maritime Cooperation in the City of London, 29.1% of Greek-owned tonnage flies the Liberian flag, which holds the top spot, followed by the Marshall Islands with a 24.2% share. “We are proud to fly the Liberian flag, ” said Haris Vafeias upon receiving the award.
PPA: The Board of Directors proposes to the company’s shareholders a dividend of €1.89 per share through the distribution of €47.4 million from the 2025 fiscal year’s profits. The proposed ex-dividend date is August 3, and the record date is August 4.
Payments will begin on August 7.
MOTOR OIL: For about a year, the Vardinoyannis Group has been looking for a way to reduce its exposure to renewable energy.
Last year, the exploration was fruitless, but, according to unconfirmed reports, the group was seeking a “passive” investor for Anemos. This year, the exploration resumed, as did the structure of the proposed transaction.
Thus, the agreement with DEI. The latter is purchasing operational wind farms, with an installed capacity of 107 MW from Motor Oil Renewables (MORE), as well as a 51% stake in a total of 12 special purpose vehicles (SPVs), which hold a portfolio of permits for photovoltaic projects with a total nominal capacity of 1,175 MW.
The agreed purchase price was set at €237 million, but no details were provided on how it is broken down. Analysts and financiers estimate that the transaction, following the very strong first-quarter performance, will have a positive impact on the Eurobond issuance, which is expected to launch next week.
MOTOR OIL II: Under the above agreement, PPC acquires 100% of the twelve SPVs, which it currently “shares” with Unagi. It had acquired 49% five years ago (May 7, 2021), for a low price, while providing financing for the construction of the wind farms under development.
Motor Oil is acquiring the remaining 25% of Unagi from the Manolopoulos family, thereby taking full ownership of the company. It had previously purchased the 75% stake for less than €10 million (editor’s note: valuation for 100% at €12.2 million).
Finally, while MORE is losing some wind farms with “tariff” contracts (i.e., from Anemos), these have been in operation for several years. It has the opportunity to renew its portfolio and prioritize investments in storage systems, which have taken on a pivotal role due to oversupply from renewable energy production.