Can you share with us your vision for the future of the Cyprus Shipping Chamber under your leadership?
The main goal of the Cyprus Shipping Chamber is to promote and safeguard the legitimate interests of our Members and Cyprus Shipping. As the newly appointed Director General, my sincere intention is to continue this mission while upholding the high standards set since the Chamber’s establishment in 1989. I will remain committed to shaping policies that will continue to foster a viable and strong Cyprus Shipping Industry.
To achieve this, we aim towards further strengthening our close cooperation with the Shipping Deputy Ministry, recognising it as a cornerstone of our efforts to ensure the continued growth, stability and global reputation of the Cyprus Shipping Industry. The progress we have made in establishing Cyprus as a strong and well-respected shipping hub is largely the result of this productive partnership. By working even more closely together, we can effectively address emerging challenges, seize new opportunities and further enhance the competitiveness and sustainability of the Cyprus Shipping Industry on a global scale. I look forward to continuing this valuable cooperation in a spirit of mutual trust and shared commitment to excellence.
What do you see as the main challenges currently facing the Cyprus shipping industry, and how do you plan to address them?
On a global level the maritime industry faces significant challenges, driven by instability, escalating conflicts, complex sanctions, cyberattacks and the pursuit of decarbonisation. These are disruptive challenges that are reshaping our industry.
Decarbonisation is the most critical challenge for the global shipping industry as it strives to meet the IMO’s net-zero emissions target by 2050. This will require a transition to zero or near zero-carbon fuels like hydrogen, ammonia, and methanol which will be costly and will require upskilling and re-skilling of our seafarers.
The above are global challenges that will also affect the Cyprus shipping industry.
At a local level, there is an urgent need for the full digitalisation and automation of the services offered by the Shipping Deputy Ministry, to ensure efficiency, transparency and speed in sectoral procedures. In this context, the complete implementation of the Cyprus Shipping Company with Limited Liability is essential for further strengthening the international competitiveness of the Cyprus Flag, facilitating the operation of Cyprus Shipping companies and simplifying procedures.
Despite the challenges the industry faces, the growth prospects remain particularly promising. Maintaining and further promoting Cyprus’s competitive Shipping Taxation System, combined with its flexible and efficient regulatory framework, is of vital importance. It is a key factor not only in retaining existing Shipping companies in Cyprus but also in creating new opportunities capable of attracting additional high-quality shipping companies to our country.
Lastly, continued close cooperation with the State and the utilisation of the specialised expertise of the private Shipping sector, such as the Cyprus Shipping Chamber and its member companies, is vital for developing and implementing shipping policies that will secure the long-term prosperity and competitiveness of Cyprus shipping.
What do you believe makes Cyprus an attractive and competitive shipping center, and how can it continue to strengthen its position globally?
Cyprus has long been recognised as a dynamic and globalised Shipping centre, contributing significantly to the national economy and offering thousands of high-level jobs. Its strategic location, stable business environment and strong maritime tradition make it an attractive and competitive international shipping hub.
With more than 200 Shipping and shipping-related companies operating in Cyprus, a number that continues to grow, the country offers a robust environment supported by a competitive tax and legal system aligned with EU regulations. This, combined with excellent infrastructure, professional services, and connectivity, provides a strong foundation for business growth.
The Cyprus Shipping Chamber plays a vital role in representing the industry, maintaining close relations with the Government, regional and international Shipping Organisations like the International Chamber of Shipping (ICS) and the European Community Shipowners’ Association (ECSA). This ensures that the local industry has both a seat at the table and a voice in key decisions affecting international maritime regulation and policy.
To further enhance its global standing, Cyprus must continue investing in innovation, sustainability, and digitalisation, while nurturing maritime talent and maintaining its business-friendly environment. These efforts will allow it to remain a leading and resilient player in the global shipping arena. With a targeted joint effort of the private and public sectors and a modern Shipping strategy, Cyprus Shipping can continue to play a leading role on the international Shipping arena, further enhancing its competitiveness and continue contributing to Cyprus economy and society.
