One of the primary objectives of the government, which was the qualitative and further strengthening of the Cyprus ship registry, has been achieved, President Nikos Christodoulides has said, noting that in the last two years it recorded an increase of 20%.
“This achievement is largely due to the strengthening of the cooperation we have achieved with the ship-owning community of Greece and the shipping companies based in Cyprus, as well as the firm support of Cypriot shipowners,” the President said during a formal dinner at the Presidential Palace on 5 October to mark Maritime Cyprus Conference that begins today in Limassol.
Earlier in the day, President Christodoulides had separate meetings with Secretary General of the International Maritime Organisation Arsenio Dominguez, European Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas, Minister of Maritime Affairs and Insular Policy of the Hellenic Republic Vasilis Kikilias as well as senior executives of international shipping companies.
In his address during the dinner, he said that a strong Cypriot ship registry strengthens Cyprus' position on the shipping map, and also strengthens Cyprus promotion at an international level, with ships flying the Cypriot flag traveling to all corners of the earth.
"And this is even more important for us, a country that has been under Turkish occupation for 51 years," the President underlined.
He also noted the political will to further strengthen and improve the framework of services Cyprus is providing to shipping companies, "so that we can respond fully and effectively to the demanding operating framework of the shipping industry."
A main priority for the government, he continued, is the strengthening the maritime cluster in Cyprus, which is a strong industry with a multifaceted contribution.
He also said that the revenue generated by the ship management sector, during the 2nd half of 2024, amounted to 918 million, an amount corresponding to 5.28% of Cyprus's GDP. This contribution, he pointed out, compared to the 2nd half of 2023, recorded an increase of 27%.
"This makes the ship management sector a strongly growing factor in the Cypriot economy. At the same time, the increase in companies integrated into the Cypriot tonnage tax system by 15% in the last two years demonstrates the advantages provided by our regulatory framework, as well as the prospects that exist," he stressed.
The President noted that a shipping cluster is not only ship ownership companies and ship management companies, but also all companies that offer similar services in the sector, noting that those companies are consistently choosing Cyprus as the country to establish their activities.
"The strengthening, therefore, of the shipping cluster in Cyprus is our priority and with policies, such as the digitalization of the services provided but also the strengthening of others, such as for example the one-stop shipping centre, we are convinced that we will succeed in making Cyprus one of the most attractive destinations for these companies," he noted.
Referring to the upcoming Cyprus Presidency of the EU, he said that shipping will be one of the top priorities, adding that the European Commission is expected to submit its proposal for the new EU Maritime Industrial Strategy, which will be discussed in the context of the Cyprus Presidency.
The Cyprus EU Presidency, the President said, will also highlight other major challenges in the Shipping sector, including the shortage of merchant marine officers, the need for retraining and upgrading the skills of seafarers, as well as the strengthening of the framework that will allow for equal treatment of women in the maritime labor market.
Concluding, he said that a relevant declaration is expected to be adopted during the informal Council of Ministers responsible for maritime transport issues, which will be held in Cyprus next April.
