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 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tabled by the government, was approved unanimously, the agency reported, adding that two proposed amendments had been withdrawn without being put to the vote.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…