“Shipmanagement remains one of the most important pillars of Cyprus shipping and should continue to receive strong support to preserve its competitiveness and growth. The latest Central Bank figures are particularly encouraging and confirm the sector’s strong momentum – combined annual revenues exceeded €1.9 billion, the highest level of the 2020–2025 period. To sustain this success, Cyprus must continue offering a stable regulatory framework, competitive taxation, skilled maritime talent and high-quality professional services,” says Alexandros Josephides, the Director-General of the Cyprus Shipping Chamber (CSC).
In an interview with GOLD, the Director-General of the Cyprus Shipping Chamber (CSC), explains the significance for Cyprus of being the EU’s biggest ship management centre, how this can be further developed and where new avenues for growth are to be found.
In March, the European Commission adopted a wide-ranging Industrial Maritime Strategy. Which aspect of the strategy is most relevant to Cyprus’ shipping sector?
The most important aspect for Cyprus is the Strategy’s clear commitment to clean fuels, decarbonisation technologies and digitalisation. These are not simply environmental priorities; they are the foundations of future competitiveness in global shipping. For Cyprus, home to one of Europe’s largest merchant fleets and the EU’s biggest shipmanagement centre, this creates a real opportunity to strengthen its position as a modern and high-quality maritime hub. If Europe supports investment in greener vessels, smarter operations and efficient logistics, Cyprus-based companies can lead that transition from the front. Just as importantly, the Strategy recognises shipping as essential to Europe’s energy and supply chain security, highlighting the strategic value of strong maritime centres such as Cyprus.
Equally welcome is the emphasis on internationally aligned regulation. Shipping is a global industry, so climate ambition must go hand-in-hand with fair competition. Overall, this Strategy can help Cyprus become a leading shipping centre not only of today but also of the next generation.
According to the Central Bank of Cyprus’ latest report, shipmanagement revenues exceeded €1 billion in the second half of 2025. What can be done to maintain this growth? Will the focus remain on shipmanagement or are there new areas that Cyprus could target?
Shipmanagement remains one of the most important pillars of Cyprus shipping and should continue to receive strong support to preserve its competitiveness and growth. The latest Central Bank figures are particularly encouraging and confirm the sector’s strong momentum – combined annual revenues exceeded €1.9 billion, the highest level of the 2020–2025 period. To sustain this success, Cyprus must continue offering a stable regulatory framework, competitive taxation, skilled maritime talent and high-quality professional services. At the same time, opportunities exist in digital maritime services, green shipping solutions, marine technology and maritime finance, building on our strong shipmanagement foundation.
Have rapid advances in technology alleviated the pressure faced by shipping companies as regards crewing or has it compounded the issue, with current employees requiring upskilling and reskilling?
Technology has helped improve efficiency and automate many processes but it has not removed the staffing challenge; it has simply changed it. The green and digital transition is reshaping maritime operations, meaning that companies need people with new technical and digital skills. According to the Draghi Report, around 250,000 seafarers in Europe will need upskilling or reskilling over the next decade. This underlines the urgency of investing in training and lifelong learning. At the same time, it is an opportunity to attract diverse new talent, promote innovation and create a more modern, inclusive workplace that keeps shipping competitive for the future.
In October 2025, Cyprus launched the CYSh1P digital platform for maritime services. What other tools would the CSC support to further enhance operational efficiency?
The launch of the CYSh1P digital platform is a very positive development and a longstanding request of the shipping industry. It has been widely welcomed, as it streamlines a comprehensive range of maritime services and strengthens the competitiveness of Cyprus’ maritime administration. Digital tools that reduce processing times, improve transparency and allow seamless interaction with authorities are essential for operational efficiency. Within the same forward-looking approach, it would also be highly beneficial for the Shipping Deputy Ministry to expand the services provided by its One-Stop Shipping Centre as a pivotal step towards the further simplification, coordination and optimisation of the business environment for shipping companies in Cyprus.
Also in October, the IMO Marine Environment Protection Committee (MEPC) postponed a decision to adopt the Net-Zero Framework for one year. Is the CSC satisfied with how this issue has developed since then?
The adjournment of the decision on the Net-Zero Framework provided valuable additional time for the international shipping community to further analyse, consult and develop practical and realistic solutions for the sector’s decarbonisation journey. This period can help strengthen cooperation, deepen technical understanding and ensure that future measures are both effective and workable in practice. Looking ahead, the focus should remain on building consensus and achieving a global agreement at the earliest opportunity. Constructive dialogue and open consideration of practical alternatives will be essential to securing a balanced and widely supported framework that delivers regulatory certainty for the industry. In this regard, the Chamber encourages IMO Member States to carefully consider the proposals presented at MEPC 84, particularly those promoting a data-driven, fuel and technology-neutral approach that takes into account fuel availability, safety and real-world operational conditions in an effort to achieve a consensus agreement by MEPC 85 in December this year.
What plans does the CSC have to continue strengthening its presence and the representation of its members in the international maritime arena?
The Chamber is committed to amplifying its members’ voices through proactive, high-level representation. We are intensifying our lobbying efforts within the International Chamber of Shipping (ICS) and European Shipowners | ECSA, ensuring that Cyprus remains at the forefront of global maritime policy. At the same time, we are placing greater emphasis on promoting Cyprus shipping, showcasing the sector’s strength, reliability and global reach through selected initiatives and strategic activities. This dual approach – strong advocacy on policy and enhanced visibility of the industry – ensures that the voice of Cyprus shipping is clearly heard, while reinforcing its role as a trusted and competitive maritime hub in the international arena.
This interview first appeared in the May edition of GOLD magazine. Click here to view it.
