articles | 28 June 2023

Cyprus shipping ready to leverage its infrastructure and people

The Cypriot flag has been included among the flags of countries listed in the white list of the Paris and Tokyo memoranda, according to Deputy Minister for Shipping Marina Hadjimanoli.

The minister emphasised that Cyprus is ready to leverage its maritime infrastructure and human resources, thereby enhancing its competitiveness within the broader development of the shipping industry.

Speaking at an event titled “Shipping in Cyprus and Prospects in Larnaca,” organised by the Cyprus Shipping Chamber this week, Hadjimanoli stated that “Cyprus, being the third largest island in the Mediterranean at the eastern edge between the maritime routes of Europe, Africa, and Asia, has always attached great importance to shipping, which undoubtedly constitutes a significant pillar for the country’s economic development”. “Shipping contributes 7 per cent to Cyprus’ GDP and to the social and political progress of the region,” the minister said. “Recognising the importance of shipping for Cyprus, the primary objective of the Christodoulides administration is to further improve and develop Cypriot shipping,” she added.

Hadjimanoli continued by saying that commercial shipping in Cyprus has experienced rapid growth in recent decades, with Cyprus now being a global maritime power, boasting the eleventh-largest fleet worldwide and the third-largest fleet in Europe. She also noted that Cyprus has evolved into a modern, efficient, and integrated maritime centre, ranking among the top three ship management centres globally and the largest in Europe.

Highlighting the country’s maritime infrastructure development and specialised knowledge of its human resources, Hadjimanoli affirmed that the Cypriot flag is recognised as one of the most reputable and competitive flags in the shipping industry. She also underlined that the Cypriot flag complies with all safety and protection standards outlined by international maritime and other organisations, earning its place among the flags of countries included in the white list of the Paris and Tokyo MoU memoranda. “I am proud. Because during the recent press release by the Paris MoU, about the adoption of new performance standards for flag states and recognised organisations, Cyprus not only remains on the white list but has also achieved an impressive rise from the 13th to the 8th position,” the minister stated. “As a result, Cyprus maintains a strong presence and active involvement in decisions taken by international organisations such as the IMO, ILO, and the European Union concerning these matters,” she added.

Referring to Larnaca’s historical connection to the sea and shipping, Hadjimanoli highlighted the government’s commitment to the city’s development. She noted that “the modernisation and redevelopment of Larnaca Port and Marina by Kition Ocean Holdings Ltd, as well as the establishment and hosting of the first research institute for maritime technologies in the city, are just a few examples of the efforts being made to further enhance its development”.

Hadjimanoli also referred to the maritime passenger connection between Cyprus and Greece, stating that “last year, after 21 years of absence, the route resumed and was embraced by the passenger community with tremendous success, surpassing all desired expectations”. “The inclusion of Larnaca Port in the route of the contracted company is a clear example that Cyprus, as an island maritime state, is ready to fully utilise its maritime infrastructure and human resources, strengthening its position as a prominent player in the shipping industry,” she added.

The event concluded with Hadjimanoli expressing optimism about the prospects of the shipping industry in Cyprus, highlighting the government’s commitment to fostering its growth and maintaining Cyprus’ prominent position in the global maritime sector.



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