Gunvor, Oceangold and Maas Capital Form Tanker JV
A new ship holding company has been formed through a joint venture agreement between physical energy trader Gunvor Group, ship management company Oceangold Tankers and investor Maas Capital.The three partners hold an equal share in the new company, ClearOcean Tankers, which has been incorporated in Cyprus.The new joint venture company has entered into shipbuilding contracts for six vessels from South Korean shipyards, including four MR2 product tankers from STX Offshore & Shipbuilding Co. and two LR2 product tankers from Daehan Shipbuilding Co.
Pollution Contingency Plan by Cyprus, Greece and Israel
The latest sub-regional contingency plan to deal with any oil pollution incident in the Mediterranean Sea has been signed, following support from the International Maritime Organization (IMO)-administered Regional Marine Pollution Emergency Response Centre for the Mediterranean Sea (REMPEC). An Implementation Agreement on the Sub-Regional Marine Oil Pollution Contingency Plan was signed in Nicosia, Cyprus (8 May) by Cyprus, Greece, and Israel, along with other instruments for cooperation among the three countries. The objective of the contingency plan is an effective reaction to spills.
Ambrey Risk is Awarded Cyprus-Flagged Vessel
World renowned maritime security specialist Ambrey Risk has been awarded accreditation to work with Cyprus-flagged vessels. The UK-based security company, which won a Chamber of Commerce award for business growth last year, became the first UK maritime security company to be granted official accreditation from the Cyprus Maritime Authority, on 13th February 2013, sanctioning the services of armed and unarmed escort guards on vessels transiting piracy high risk areas. Ambrey Risk…
Cyprus Shipping 'Navigates' the Country to Recovery
Cyprus shipping sector has evolved in the recent years as one of the leading sectors of the economy and “navigates” Cyprus to economic recovery, President of the Republic Nicos Anastasiades stressed says a report by CNA. President Anastasiades expressed the government's appreciation to all participants for their continuous support and the trust they place on Cyprus Shipping and its Flag throughout the years and for contributing towards the 'impressive development of the Cyprus Shipping Industry'.
2,500 More Ships to Cypriot Registry
As 2,500 ships currently under management by Cyprus-based companies could be registered in the Cypriot registry, a settlement of the Cyprus problem could boost the island`s commercial fleet to new levels, reports CNA. The Cypriot registry currently ranks 10th in the world and 3rd in the European Union with 1,763 ships flying the flag, despite the embargo on Cypriot-flagged ships imposed since 1987 by Turkey. Cyprus has a highly developed ship-management sector, the second largest in the world, with 2,500 ships under management by Cypriot-based firms.
Cyprus Pushes Through Limassol Port Privatisation
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…
AdvanFort Earns Cypress Private Ship Security Certificate
The Cyprus Department of Merchant Shipping (DMS) has licensed the AdvanFort Company, a world-leading provider of maritime security solutions for the commercial shipping industry, to supply the services of armed and unarmed escort guards on those of its flagged vessels transiting piracy high-risk areas, it was announced today. The decision by Cypriot authorities comes just six months following similar approval by the Panama Maritime Authority (PMA) to conduct counter-piracy operations aboard vessels flying the Panama flag.
ChartCo Now Has Flag State from Cyprus
U.K. broadcaster of marine information by satellite, ChartCo, has been granted Flag State Approval from Cyprus, thus bringing the number of flag states that have formally approved the ChartCo broadcast service to more than 20. Strategically important to ChartCo, Cyprus is the home base of myriad ship managers and owners. In addition, many vessels choose Cyprus as their flag state, even if they do not originate from the island.
Cyprus to Establish Deputy Ministry of Shipping
Cyprus Parliament has passed a bill establishing a shipping junior ministry, the Cyprus News Agency (CNA) reported quoting government sources. The bill, tabled by the government, was approved unanimously, the agency reported, adding that two proposed amendments had been withdrawn without being put to the vote. The Minister of Transport, Communications and Works Marios Dimitriades, in a written statement, welcomes the decision of the Parliament to establish a Deputy Ministry of Shipping., noting that Cyprus’ shipping is a big chapter for Cyprus.
Greek Shipping Mulls Cyprus Move
Greek shipping companies are looking into moving to Cyprus due to the instability and uncertainty in Greece, it emerged, reports Cyprus News Agency. The director general of the Cypriot Shipping Chamber, Thomas Kazakos, said that a small number of Greek shippers have contacted Cypriot authorities for information on the procedures required and the tax system on the island. “Bearing in mind the developments in Greece, it is a normal consequence that some ship owners will look into … having a second base in Cyprus…
BP Marine to Cease Cyprus Bunker Ops
BP Marine is to close its bunkering operation in Cyprus as a result of sales failing to deliver on expectations. BP Marine first moved into the Cyprus marine fuels market in February 2005 in anticipation of increased shipping activity following the country’s entry to the EU the previous year. This, however, did not materialise and the bunkering market has in fact shrunk as economies and trade continued to be adversely affected by ongoing regional conflicts. Parris Beverly, managing director of BP Marine Fuels, says: “Over the course of the last three years we have made every effort to stimulate business in Cyprus, but ultimately there has been no significant change.
Turkish Ban on Cyprus Ships Pose Problems
According to Cyprus Mail, The Cyprus Shipping Council (CSC) reported that the Turkish ban on Cypriot vessels is the number one problem for the shipping industry. CSC said the ban had caused hundreds of ships over the years to re-flag out of Cyprus and prevented hundreds of other ships from using the Cyprus Registry and that the issue had now become a European one since Turkey signed the customs union protocol with the 10 new member states. However, Ankara still refuses to lift the ban on Cypriot ships. The CSC president, however, welcomed the EU’s counter-statement in October last year that clearly said the embargo on Cypriot ships must be lifted within 2006.
Cyprus to Commission 3D Seismic Surveys
Cyprus will soon commission three-dimensional surveys of the Mediterranean seabed south of the island after early indications there could be oil and gas reserves in the area, Cyprus Mail reported. Cyprus, which has not explored for hydrocarbons before, has seismic data which calls for further research in an area south-west of the island. Norwegian company Petroleum Geo-Services (PGS) concluded two-dimensional research of a 60,000 square km offshore area in early May. The surveys would form the basis of a licensing round at the end of 2006. Upon conclusion of the 3D surveys authorities will divide the area into blocks and companies could bid for exploration rights, executable within two years of a company being awarded a contract. (Source: Cyprus Mail)
Cyprus Launches Maritime Academy
The University of Nicosia announced the operation of the Cyprus Maritime Academy at the Bernhard Schulte Shipmanagement Centre for Nautical Education, where the academy’s facilities are housed. According to local media reports, Cyprus Maritime Academy will receive its first students in September 2016 and offer four-year degree programs which will cover the three main sectors of the nautical industry: Nautical Science, Nautical Engineering, and Nautical Electric Engineering. The Academy will take in 35-40 students in its first year.
Egypt, Greece, Cyprus Pledge More Energy Cooperation
Egypt, facing its worst power crisis in decades, on Saturday pledged greater energy cooperation with Greece and Cyprus, a diplomatic move that opened up the possibility of progress in talks to import natural gas from Cyprus. The meeting in Cairo between Anastasiades, Egyptian President Abdelfattah al-Sisi and Greek Prime Minister Antonis Samaras demonstrated deepening ties between the three states, who are challenging Turkey's efforts to chart gas deposits in areas of the east Mediterrean claimed by Cyprus. The emerging alliance fits Egypt's interests well.
BSM: Strong Player in Cyprus Shipping
BSM reports 20% increase in the number of vessels under its management over the last year. The increase seen by BSM comes as no surprise against the backdrop of a fast growing economy that Cyprus has been demonstrating in recent times. Particularly over the last six months, the country has attracted many private equity firms and shipping companies, such as Ridgebury Tankers, who have set up presence here in Cyprus. Mr McWhinnie, an active member of the board of the Cyprus Shipping Chamber and the Cyprus Marine Environment Protection Association…
Cyprus Pledges Support for Shipping
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.
High Seas Standoff: Cyprus Says Turkey Blocks Drill Ship
Cyprus on Sunday accused the Turkish military of obstructing a ship contracted by Italian oil company Eni from approaching an area to explore for natural gas, highlighting tensions over offshore resources in the east Mediterranean. A spokesman for Eni said on Sunday the Saipem 12000 drill ship had been heading from a location southwest of Cyprus towards an area southeast of the island on Friday when it was stopped by Turkish military ships and told not to continue because of military activities in the destination area. Turkey, which does not have diplomatic relations with Cyprus, claims that certain areas in Cyprus's offshore maritime zone, known as an EEZ, fall into the jurisdiction of Turkey or that of Turkish Cypriots.
Cyprus Accuses Turkey of Blocking Drillship Again
Cyprus accused Turkey on Friday of threatening to use force against a drillship chartered by Italy's Eni, in a standoff over hydrocarbons rights in the eastern Mediterranean. There was no immediate reaction from Turkey, which has vowed to prevent Greek Cypriots from exploring for oil or gas around the ethnically-split island and says some areas of Cyprus's offshore maritime zone fall under its jurisdiction. On Feb. 9, the Turkish navy on manoeuvres in the Mediterranean stopped the Saipem 12000 vessel on its way to drill for gas in the waters off Cyprus, triggering a diplomatic standoff which has underscored tensions in the region over competing claims for offshore resources.
Support to Cyprus Shipping Industry
Cyprus President Nicos Anastasiades reiterated his Government’s strong support towards the shipping industry and determination to introduce those mechanisms necessary to further enhance it. “I understand from Minister Demetriades that the study is nearing completion and I am, therefore, eager to learn about its findings and see a well-structured `Shipping Strategy` being designed, in order to take Cyprus Shipping into the future” he added. Nicos said he was grateful to the shipping industry, which had managed to help support the economy through the crisis.
Eni Staying in Cyprus Despite Island's Standoff with Turkey
Italy's Eni will not relinquish its interests in Cyprus, its CEO said on Wednesday, as an uneasy standoff between Turkey and the Mediterranean island lingered over offshore hydrocarbons resources.The Italian state-controlled energy giant had to abandon a scheduled drill for oil and gas south of Cyprus in February because of Turkish military exercises. The broader region has yielded some of the largest natural gas finds worldwide in recent years."I just want to remind (sic) that so far we have invested about 700 million euros in Cyprus. That means that there's strong engagement and commitment towards the country," Eni CEO Claudio Descalzi…
DP World Opens Limassol Passenger Terminal
The new cruise passenger terminal at DP World Limassol was inaugurated today by Cyprus President, His Excellency Mr. Nicos Anastasiades; Minister of Transport, Communications and Works, Mrs. Vassiliki Anastassiadou; the Mayor of Limassol, Nicos Nicolaides and DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem. The operational opening of the terminal was attended by almost 300 guests and will enable the largest cruise ships in the world to visit the country for the first time.
Cyprus-Egypt Gas Pipeline to Cost $800 mln-$1 bln
A pipeline connecting Cyprus' Aphrodite gas field to Egypt's liquefied natural gas (LNG) facilities will cost between $800 million and $1 billion, Egyptian petroleum minister Tarek El Molla said on Monday. Egypt has rapidly increased its production of natural gas and is hoping to become a hub for exporting to Europe after making a series of big discoveries in recent years. Molla, speaking at a joint news conference with Cyprus energy minister Yiorgos Lakkotrypis, said Cypriot gas would be used in part for domestic consumption and in part for export. Lakkotrypis said a final agreement on the pipeline would be signed as quickly as possible but did not specify when. Egypt is hoping to halt gas imports by 2019 and achieve self-sufficiency.