Press Releases

It is a great pleasure to attend the 35 years anniversary celebration of the Cyprus Shipping Chamber (CSC) and to express our sincere appreciation and thanks for the invaluable contribution to the Cyprus shipping sector.

Since its establishment in 1989, the CSC has been one of the closest collaborators of the government in our targeted efforts to successfully establish Cyprus as a modern, high-quality and competitive shipping cluster that has withstood the tests of time, thriving in moments of prosperity and standing resilient in the face of challenges that have touched the global shipping scene.

Cyprus shipping stands as a fundamental pillar and a cornerstone of our country's economy, boasting significant and tangible growth potential. This resilient sector has demonstrated steadfast expansion, evolving into a prominent maritime centre globally. Cyprus proudly holds the position of having the eleventh largest merchant fleet worldwide, ranking as the third largest fleet in the European Union (EU) and securing its place as Europe's largest ship management centre.

We stand at a pivotal point, witnessing a transformative era unfold before us. The entire shipping industry has embarked on a profound journey of change, defined by two transformative challenges, automation and decarbonisation. The introduction of cleaner technologies and alternative fuels to reach the industries’ decarbonisation goals, coupled with the widespread adoption of digitalisation and automation, are altering every aspect of maritime operations, creating both enormous potential and complex challenges.

To navigate this shift successfully, it is vital for the shipping industry to proactively embrace and incorporate these advancements into their fleets. This begins with optimising energy efficiency of existing vessels by incorporating innovative technological mechanisms and extends to the development and funding of new innovative, state-of-the-art ships equipped with cutting-edge technologies.

An integral part of this shift involves investing in a highly skilled and well-trained workforce. This workforce will play a crucial role in not only constructing and maintaining these technologically advanced vessels but also in navigating them towards new horizons of opportunity.

Our aims must concentrate on addressing these challenges and opportunities head-on. Our collective efforts will revolve around fostering a seamless transition towards a future marked by innovation, sustainability and prosperity for the entire maritime industry.

Recognising the importance of not becoming complacent with the current positive state of affairs, the government remains vigilant and proactive. It is committed to taking decisive actions aimed at advancing the continued development of the Cyprus flag and our shipping sector as a whole.

It is through proactive measures, ongoing consultations, addressing persistent challenges and the agility to seize opportunities that we lay the foundation for a sustainable future for the Cyprus registry and the broader shipping industry. To ensure both economic viability and ecological responsibility is not merely a choice, but a responsibility we bear for the future of our industry, one that necessitates forward-thinking, collaboration and a commitment to navigating these seas of change.

My presence here today reflects this dimension, the importance that I personally and the government as a whole attach to shipping. And I want to take the opportunity to assure you that this support will not only continue, but our aim is to strengthen it with concrete actions as a result of the ongoing dialogue with you.

In light of this, I am pleased to announce that the Council of Ministers has recently taken a decisive step forward by establishing two advisory committees. These committees are dedicated to work consistently with the Shipping Deputy Ministry and the Shipping Deputy Minister. Through a structured and ongoing dialogue, our aim is to strengthen our collaboration and collectively strive towards the shared objective of elevating the competitiveness of the Cyprus flag and the entire maritime cluster.

Moreover, the government recognises the necessity for sustainable growth and endeavours to enhance the competitiveness of our flag and the maritime cluster. To this end, we have recently launched the one-stop-shipping-centre; a facility designed to centralise all transactions related to shipping with governmental departments and services under the centre’s jurisdiction in order to offer greater expediency for the growing needs of the shipping industry.

In addition, the implementation of the Shipping Limited Liability Company Law aims to simplify procedures and accelerate the establishment and registration of shipowning companies with Cyprus ships at the Shipping Deputy Ministry.

I would like to assure you that the Cyprus government is committed to work in full collaboration with the CSC and all stakeholders involved, towards ensuring Cyprus shipping sustainable future. The shipping industry is a flagship industry for Cyprus and proudly raises through its accomplishments our country as a whole. As such, it is well respected not only from my government but from all political parties and enjoys a reputation for being a strong national asset for the Cyprus economy. In this respect, the Cyprus government pledges its commitment to continue being in contact with the Chamber, through all involved Ministers, on issues affecting the Cyprus shipping industry to remain intact and improve further.

Concluding, I wish to extend once again my sincere appreciation to the CSC, its esteemed Board of Directors and its members for their unwavering and invaluable contributions to the economy and society of Cyprus. I am confident that the exceptional collaboration and strong relationship between the government and the CSC will persist, paving the way for continued achievements and a promising, sustainable future.

(RM/GS/MS)