Limassol: One of the primary objectives of the Government, which was the qualitative and further strengthening of the Cyprus ship registry, has been achieved, President of the Republic, Nikos Christodoulides, stressed on Sunday, noting that in the last two years it recorded an increase of 20%.
According to Cyprus News Agency, this achievement is largely due to the strengthening of the cooperation with the ship-owning community of Greece and the shipping companies based in Cyprus, as well as the firm support of Cypriot shipowners. The President emphasized this during his address at a formal dinner hosted at the Presidential Palace on the occasion of the Maritime Cyprus Conference that begins on Monday in Limassol.
Earlier on Sunday, President Christodoulides had separate meetings with Secretary General of the International Maritime Organisation Arsenio Dominguez, European Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas, Minister of Maritime Affairs and Insular Policy of the Hellenic
Republic Vasilis Kikilias, and senior executives of international shipping companies.
In his address during the dinner, he stated that a strong Cypriot ship registry strengthens Cyprus’ position on the shipping map and promotes Cyprus internationally, with ships flying the Cypriot flag traveling globally. “And this is even more important for us, a country that has been under Turkish occupation for 51 years,” the President underlined.
He also noted the political will to further strengthen and improve the framework of services Cyprus is providing to shipping companies, aiming to fully and effectively respond to the demanding operating framework of the shipping industry.
A main priority for the government, he continued, is strengthening the maritime cluster in Cyprus, a strong industry with a multifaceted contribution. He mentioned that the revenue generated by the ship management sector during the second half of 2024 amounted to 918 million, equating to 5.28% of Cyprus’s GDP. This contribution, he pointed ou
t, recorded a 27% increase compared to the second half of 2023.
“This makes the ship management sector a strongly growing factor in the Cypriot economy. At the same time, the increase in companies integrated into the Cypriot tonnage tax system by 15% in the last two years demonstrates the advantages provided by our regulatory framework, as well as the prospects that exist,” he stressed.
The President noted that a shipping cluster includes not only ship ownership and ship management companies but also all companies offering similar services in the sector, highlighting that these companies are consistently choosing Cyprus as the base for their activities.
“The strengthening, therefore, of the shipping cluster in Cyprus is our priority, and with policies such as the digitalization of the services provided and the strengthening of others, such as a one-stop shipping centre, we are convinced that we will succeed in making Cyprus one of the most attractive destinations for these companies,” he noted.
Referring
to the upcoming Cyprus Presidency of the EU, he said that shipping will be one of the top priorities. He added that the European Commission is expected to submit its proposal for the new EU Maritime Industrial Strategy, which will be discussed in the context of the Cyprus Presidency.
The Cyprus EU Presidency, the President said, will also highlight other major challenges in the shipping sector, including the shortage of merchant marine officers, the need for retraining and upgrading the skills of seafarers, and strengthening the framework for equal treatment of women in the maritime labor market.
Concluding, he mentioned that a relevant declaration is expected to be adopted during the informal Council of Ministers responsible for maritime transport issues, which will be held in Cyprus next April.
Meanwhile, the President received Secretary General of the International Maritime Organisation Arsenio Dominguez on Sunday afternoon. According to a press release by the Presidency, they discussed cooperation issu
es between Cyprus and the IMO and the current situation in the shipping sector given geopolitical developments both regionally and internationally.
The President also met senior executives of international shipping companies, including CEO of the Caravel Group, Dr. Harry Banga, who noted the company’s interest in operating in Cyprus. The President thanked Dr. Banga for his continuous support to Cypriot shipping. In a meeting with executives of Royal Caribbean, they reaffirmed the strong cooperation with the Republic of Cyprus, discussing prospects for further strengthening within the framework of the National Cruise Strategy approved by the Council of Ministers.
Furthermore, he received European Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas. The President noted it is the first time the EU is claiming a significant role in the shipping sector. The Commissioner assured Cyprus of his support, citing the approval of an 18 million euro fund for the port of Vassilikos as an example.
F
inally, the President met with Minister of Maritime Affairs and Insular Policy of the Hellenic Republic Vasilis Kikilias, who referred to the significant contribution of shipping to Cyprus’s GDP, expressing belief in its future strengthening. President Christodoulides said that the Cypriot Government is proceeding with strengthening similar shipping sectors and developing the cruise industry.