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Deputy Minister showcases Cyprus shipping in the US

08:55 - 07 April 2025

Economy Reporter

The Deputy Minister of Shipping to the President, Marina Hadjimanolis, visited New York between 3 and 5 April as part of efforts to promote and showcase Cypriot shipping.

During her contacts, the Deputy Minister presented the advantages of the Cyprus ship registry and maritime cluster, highlighting the investment opportunities offered by the establishment of shipping companies in Cyprus. She emphasized the competitive advantages of the Cyprus tonnage tax system. Among other points, she outlined the initiatives undertaken by the Deputy Ministry of Shipping over the past two years, which have resulted in an 18% increase in the Cyprus registry over the last sixteen months and a 15% rise in companies registered under the tonnage tax system.

As noted in a Deputy Ministry press release, during her stay in New York, the Deputy Minister held meetings with shipowners of maritime companies based in the U.S., as well as with companies active in Asia and Europe. Discussions focused on the prospects of registering company fleet vessels under the Cyprus flag and incorporating company activities into the Cyprus tonnage tax system. The companies expressed keen interest in positively exploring collaboration with the Deputy Ministry of Shipping.

The Deputy Minister also participated in a special event held at the New York Stock Exchange (NYSE) in honor of Cyprus, on 4 April. The event was organized in collaboration with Safe Bulkers Inc., a shipping company listed on the NYSE. The President of the Republic of Cyprus, Nikos Christodoulides, rang the closing bell in a symbolic ceremony aimed at internationally promoting Cyprus.

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