articles | 20 June 2016

Cyprus wants to expand shipping to new markets

The government is implementing a new Cyprus shipping strategy to widen the sector’s horizons and create new opportunities for expansion into new markets, Transport Minister Marios Demetriades said during his address at the 5th Mare Forum Cyprus 2016.

“As part of our efforts to enhance Cyprus’ competitiveness, we have procured a study for the shipping industry in cooperation with the private sector,” he said.

The study proposes measures that would strengthen the Cyprus merchant fleet and shipping cluster. Demetriades said the outcome and recommendations of the study had been taken into consideration and the implementation of those measures has already begun.

Additional measures that are already taking place include the recent engagement of a private firm for the promotion of shipping, the strengthening of regional offices and incentives for business development, he said.

“I am confident that the effective and successful implementation of the new Cyprus Shipping Strategy, along with the restructuring ofthe maritime administration, which is also in progress, will widen the horizons of our shipping industry and create new opportunities for expansion into new markets. At the same time, we have to make sure that the high standards of quality and safety that characterise our maritime industry are maintained and safeguarded” the Minister said. Demetriades said the discovery of hydrocarbons placed new challenges in front of the industry.

“We are confident that Cyprus has the potential to develop into an important energy centre in the Mediterranean offering services in the area. Such services include transportation ashore, operation of specialised ships and equipment and the supply of specialised support services” he said. “We already witness increased interest from companies involved in the sector for port infrastructure to offer these services”.

He also alluded to the efforts of the Cyprus government to lift the Turkish embargo, a development that would undoubtedly be a game changer for the Cyprus shipping enhancing significantly its potential for growth, he added.

“Cyprus shipping has solid grounds to build on and to expand further. We have the experience and know-how, the professionals, a high quality flag and a package of favourable incentives for the sector. These are basic ingredients for a successful maritime industry. Our objective for the future is to consolidate and further develop our role in world shipping and to provide the necessary conditions for a sustainable growth of the shipping sector in Cyprus,” he said.

Source: Cyprus Mail

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