articles | 18 May 2016

Cyprus shipping to be restructured

The government is working to prepare a study on the restructuring of the commercial shipping sector in Cyprus, Transport Minister Marios Demetriades said recently.

Speaking during the first ‘Shipping Industry Conference Gala’ in Limassol, Demetriades said commercial shipping is highly competitive and we should work to strengthen it.

He noted that shipping in Cyprus has been growing in the last two years, but said: “we live in a highly competitive environment and we should make great efforts to maintain the advantages we offer as a shipping country to be able to increase the presence of shipping companies on the island”.

Noting that we live in an ever changing environment, he said only those who can adapt will be able to survive in the new era.

“We have started to implement some measures but we need to do more because it is a very competitive sector,” he said.

With regards the government’s role, he said the “necessary changes are required by the competent departments in order to become more flexible in the way we work”.

He said that many countries come up with new ideas that follow a more flexible model and have assigned the promotion of the country’s flag to the private sector.

Source: InCyprus

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