Ship management revenues exceeded €1 billion in the second half of 2025, marking a 2.3% increase compared to the first half of 2025, according to the Ship Management Survey (SMS) conducted by the Statistics Department of the Central Bank of Cyprus (CBC).
According to the study, the revenue level is significantly higher than the average revenues recorded during the 2019-2021 period, a time shaped by pandemic-related disruptions, temporary state support measures, and increased crew management costs.
Ship management expenses reached €897 million, showing a marginal 0.2% increase from the first half of 2025.
The study showed that Germany remained the main trading partner with a 28% share of the sector's revenues. Switzerland's share rose to 15%, while Greece's share dipped slightly to 12%.
Singapore's contribution, according to the CBC, increased modestly to 5%, and the United States, which was absent from the main trading partners in the first half of 2025, appeared with a 4% share.
Additionally, during the second half of 2025, as the study notes, 30% of companies managed to generate revenues between €2-15 million each, while another 30% of companies generated revenues exceeding €15 million each.
Moreover, full management services remain the primary source of revenue.
Specifically, according to the CBC study, in the second half of 2025, the share of full management services rose slightly to 51.2% of total ship management revenues, while the share of crew management services fell marginally from 48.4% in the first half of 2025 to 47.0% of total revenues in the second half. The share of technical management services remained steady at 1.8% of total ship management revenues.
