London: Cyprus is recognized as one of the foremost global hubs for ship owning and ship management services and stands as one of the largest top quality sovereign flag states, according to Cyprus News Agency. Deputy Minister of Shipping, Marina Hadjimanolis, highlighted this during her participation in the International Shipping Week 2025 in London, where she engaged in various activities to promote Cyprus’s shipping industry.
According to Cyprus News Agency, Hadjimanolis emphasized that the shipping sector is a critical component of Cyprus’s economy, contributing over 7% to the national GDP. She noted that the government’s commitment to enhancing the shipping sector’s competitiveness is aligned with sustainable growth objectives. The Deputy Minister pointed out that Cyprus has evolved into a leading ship and crew management center globally, with significant numbers of ships and seafarers under its management.
Hadjimanolis announced a new incentive for shipowners operating Cyprus and Community ships, allowing for up to a 30% reduction in annual tonnage tax from January 2024 for vessels actively reducing their environmental impact. This initiative supports the broader goal of promoting sustainable shipping practices within the industry.
In anticipation of Cyprus’s upcoming Presidency of the Council of the European Union, she outlined priorities such as advancing seafarers’ education and increasing women’s participation in the shipping sector. An invitation was extended to the ‘Maritime Cyprus 2025’ conference scheduled for October in Limassol.
The Deputy Ministry of Shipping released a statement detailing Hadjimanolis’s participation in the 17th annual Capital Link Shipping and Marine Services Forum, where she joined discussions on ‘Shipping in a New Era’ alongside Greek officials. She also delivered a speech titled ‘When Women Lead,’ focusing on women’s leadership in global shipping.
During her visit, Hadjimanolis attended a British government reception, engaging with notable figures such as Princess Anne and the UK Secretary of State for Transport, discussing Cyprus’s shipping development. A dinner organized by the National Federation of Cypriots in the UK allowed further dialogue on enhancing Cyprus’s shipping registry and complex.
The press release also mentioned her meetings with London-based shipowners to explore registering their vessels under the Cyprus flag, with shipowners showing keen interest in collaborating with the Deputy Ministry of Shipping.