Themis Papadopoulos outlines key developments affecting the shipping sector at AGM

Cyprus Shipping Chamber President Themis Papadopoulos opened his speech at the 36th Annual General Meeting of the Cyprus Shipping Chamber by welcoming guests and expressing gratitude to key political figures, including the President of the Republic and the President of the House, for their longstanding support of Cyprus’ shipping industry.

Despite ongoing global turbulence—geopolitical conflicts, economic uncertainty, and tightening regulations, he highlighted that Cyprus' shipping sector continues to show resilience, contributing approximately 7% to the country's GDP and managing a fleet of over 2,800 vessels.

Papadopoulos outlined several key developments affecting the sector, including the EU Directive on OECD Pillar II, Cyprus Tax Reform, the Foreign Direct Investment Regulation, and social insurance frameworks for EU seafarers. Special focus was given to the need for reforms, such as fully implementing the NEPE law, enhancing the One Stop Shipping Centre, and addressing social security issues for Cyprus-flagged ships.

In terms of international matters, Papadopoulos also welcomed the IMO’s adoption of mid-term greenhouse gas reduction targets but cautioned about the complexity of implementation amid emerging regional rules. He emphasised that the Chamber remains committed to promoting free trade, safe maritime routes, and the welfare of seafarers—particularly in light of rising global tensions and increasing regulatory uncertainty.

In closing, Papadopoulos expressed sincere appreciation to Chamber Members, the Secretariat, business partners, and the newly elected Board. He voiced strong confidence in the future of Cyprus shipping, rooted in a shared vision, adaptability, and continued collaboration. He also took a moment to recognise and congratulate Thomas Kazakos for his remarkable journey and achievements within the Cyprus Shipping Chamber, commending his dedicated service to the industry.