Piraeus Port Authority / Wreck removal

The Piraeus Port Authority, despite becoming a Societe Anonyme, has maintained the right to auction
and remove wrecks from Piraeus port area.

The owner of a vessel which may be sunk or constitute a peril in navigation or the environment, is
under the duty to remove it. The authority invites the owner to remove the vessel within two months,
otherwise it proceeds with the removal itself at the owner’s cost.

The authority can also announce bids for the vessel, if it is not possible for them to remove the vessel
themselves. The successful bidder acquires ownership to the vessel. Auction proceeds are for the former
owner, after the deduction of the bid expenses plus 10%. Creditors of the former owner, if there are
any, can announce their claims to satisfy them from the auction proceeds.
Piraeus One membered Court of Appeal Judgment no 468/2017, Judge: A. Theofanis, Attorneys at law:G. Nikiforou, Aik. Nomikou, Maritime Law Review vol. 45, p. 13.

NOTE: Wrecks or abandoned vessels may constitute a danger in ports. The Port Authority is responsible
to ensure safety for environment and navigation.