articles | 07 October 2019

'Maritime Cyprus 2019' Conference begins in Limassol

The industry’s key three-day 'Maritime Cyprus 2019' Conference has begun in Limassol with the participation of more than 800 shipping executives from around the globe.

The conference was opened Monday, 7th October 2019 by Cyprus President Nicos Anastasiades.

“We are very proud of the achievements of Cyprus Shipping which is firmly established as one of the most qualitative, modern and complete international shipping centres, ranking 11th worldwide and 3rd in Europe in ship registries,” said Anastasiades.

He added: “Moreover, as a third-party ship management centre, Cyprus is the largest in Europe and one of the leading ones globally.”

Further consolidating and enhancing the competitiveness of the Cyprus flag and maritime cluster remains one of the most important priorities of the government.

“We have introduced an updated pricing policy which simplifies and streamlines the fees relating to the Cyprus Registry of Ships, whilst abolishing initial registration fees for ocean-going vessels,” said Anastasiades.

“And I am pleased to assess that our policies have yielded positive results.”

Revenues from ship-management companies in 2018 reached €1.034 billion from €948 million in 2017, recording an increase of 9%.

Gross tonnage of the Cyprus Ship Register has increased to almost 24.5 million gross tons, the highest figure recorded since the introduction of the tonnage tax system in 2010.

The number of shipping companies under the tonnage tax system has increased from 168 to 215.

“We have also had an increase in the companies operating in the wider maritime sector, which now offers a full range of services from ship ownership and management, to marine technology and telecommunications, bunkering, ship repairs, shipping insurance, ship brokerage, shipping finance and specialized accounting and legal services,” said Anastasiades.

Maritime Cyprus is organised every two years by the Shipping Deputy Ministry in cooperation with the Cyprus Shipping Chamber and the Cyprus Union of Shipowners

It is celebrating 30 years since it was first held in 1989.

Since then, it has grown into one of the world’s most significant and most attended shipping conferences.

Its status now gives it a prominent position in the calendar of many shipping executives, including owners and managers as well as those in charge of organisations with shipping related activities.

The Conference brings together more than 800 participants, including shipowners, shipping executives, regulators and state officials from all over the world, including over 40 high-profile, high-calibre speakers.

This year’s agenda includes discussions on important topics, including shifts in established business models, regulatory challenges, environmental protection and the impact of technological transformation.

Distinguished guests such as the IMO Secretary-General Kitack Lim, the European Commissioner for Transport, the Presidents of ECSA, ICS and BIMCO, as well as renowned shipowners and world class experts will be taking part in the discussions.

The main aim of the conference is to operate as a forum where important and current issues relating to international shipping are presented by distinguished speakers and subsequently discussed by the international shipping community, thereby helping to formulate sound and well-balanced decisions and policies on crucial shipping issues.

Maritime Cyprus also offers the opportunity to participants to become familiar with the island’s strong maritime tradition.

“I would like to assure you Mr. Lim that Cyprus will continue to actively and constructively participate in the future evolution of the Organisation, including implementing new strategies, such as improving maritime safety and environmental protection,” said Anastasiades.

Source: Financial Mirror

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