Marios Demetriades News

Cyprus is carrying out a new shipping strategy as the country aims to further develop its shipping sector, according to Cyprus News Agency. The Minister of Transport, Communications and Works, Marios Demetriades says that Cyprus’ government is putting in place a new Shipping Strategy to expand the horizons of the island’s industry and create new opportunities in other markets. Cyprus has established itself as a leading international shipping centre, offering a number of competitive services to the shipping industry as well as other advantages for foreign investors, he said. Cyprus shipping has solid grounds to build on and to expand…

DP World, one of the world's biggest port operators, and the Cypriot logistics and services company GAP Vassilopoulos Public have won two concessions to manage commercial activities at Limassol Port in Cyprus starting in January. P&O Maritime Cyprus, a unit of DP World, won a 15-year concession to exclusively provide port marine services at Limassol. DP World will own 75 per cent of each joint venture, with its Cypriot partner owning the rest. Three contracts on the privatisation of Limassol port services were signed today at the Presidential Palace, marking ‘a new page for Cyprus’ great port’ according to Minister of Transportation Marios Demetriades.

The Cyprus government managed to push through parliament legislation finalizing the privatization of commercial operations at the island's primary Limassol port despite lacking a majority in parliament, reports Famagusta Gazette. 27 deputies voted in favor of regulations detailing the privatization and 20 voted against during a stormy session of the 56-member chamber. Strong opposition by socialist and left wing parties, fanned by an electoral campaign for parliamentary elections in May, had threatened the deals between the government and three international consortium which had obtained the concessions at the port. The Cyprus Transport…

Cyprus has announced the names of successful bidders who will undertake three sectors of operations at the eastern Mediterranean island's primary port of Limassol. The first – comprising Germany’s logistics company EuroGate International, Cyprus’s Interorient Navigation Company and East Med Holdings, based in Luxembourg – will run the port’s container terminal. DP World Limited (majority participant) and G.A.P Vassilopoulos Public Ltd for Marine Services and  DP World Limited (majority participant) and G.A.P Vassilopoulos Public Ltd for the Multi-purpose Terminal. "We are very satisfied with the process conducted and the end result since…

The government of Cyprus will support and bolster growth of the country’s maritime sector, Marios Demetriades, minister of transport, communications and works, said, reports In-Cyprus. “I would like to assure you that the Cyprus government is fully committed to safeguarding the shipping and maritime sector by doing the utmost to guarantee continuous sustainable growth,” Demetriades said. “Our shipping industry has been one of Cyprus’s most successful export services and constitutes a valuable asset,” he said. The industry currently contributes 7% to the island's GDP, and with the launch of a new maritime strategy, Anastasiades believes maritime will "contribute significantly", saying that he is devoted to "safeguarding the sector".

The government of Cyprus has changed the legal framework of the Cyprus Ports Authority (CPA), which will allow commercial operations at Limassol port to be privatised. The Cyprus  Ministry of Transport will call for tenders by the end of this week to attract investors for the use of Limassol Port`s commercial activities, announced Minister Marios Demetriades on Monday, who said the aim is to significantly expand port operations and transform Cyprus into a transit hub for port services. Demetriades said he's confident interest will be shown because of the island's close proximity to the Suez Canal, one of the world's busiest shipping traffic routes.

Cyprus is pushing ahead with the privatisation of its ports as part of the nation’s rehabilitation plans which will see a number of state-run entities turned over to the private sector. The Council of Ministers approved amendments to the legal framework governing the operation of the Cyprus Ports Authority. The legislative plan is now set to be handed to parliament where MPs will be tasked with reviewing the bill at committee level before passing it through for a vote. The plan reportedly outlines that the overall operations of the ports should be take on by a private company although the actual bricks and mortar of ports will still be under the umbrella of the Cyprus Ports Authority.

Privatization of Limassol Port, a port of multiple uses, is the main port of Cyprus, will be officially launched by the end of April with a call for expression of interest, says the Minister of Communications and Works Marios Demetriades. The project team is examining the possibility of attracting more than one investor, he said. Prior to the privatization of Cyprus' commercial hub, the Ministry will proceed with a revision of the Cyprus ports' charges in line with international practices. Marios also assured that the rights of employees at Limassol port will be safeguarded. A privatizations progam, part of Cyprus Euro10 billion economic adjustment program…

At the 34th WISTA International AGM & Conference held in Limassol, Cyprus, Sanjam Sahi Gupta, President of WISTA India was elected to the board of WISTA International.She is the first Indian lady and the youngest to be on the board. The conference with the theme: 'Shipping Connects' was supported by Ministry of Communications and Works which include the creation and implementation of government policy in the sectors of transport, communications, public works and antiquities. The current Minister of Communications and Works, Mr. Marios Demetriades attended the program. The conference was attend by over 280 Ladies and Gentlemen from over 30 countries.