Address by the President of the Republic of Cyprus, Mr Nikos Christodoulides, at the 36th General Annual Meeting of the Cyprus Shipping Chamber

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27/05/25 15:36 | Speech / Address | President of the Republic / Presidency, Shipping, Cyprus Presidency of the Council of the EU 2026

It is always with great pleasure that I join you for the General Annual Meeting of the Cyprus Shipping Chamber (CSC); the 36th this year!

There is a constant over the decades; CSC has consistently stood as a pillar and a driver of growth of Cyprus shipping. Since its establishment in 1989, you have been a catalyst in building Cyprus’ impressive reputation on the international shipping map.

I take this opportunity to express the Government’s sincere gratitude for your invaluable contribution and for the longstanding productive cooperation between the Chamber and Cyprus’ public sector. Our goal is clear and shared: enhancing the competitiveness of our maritime industry, creating new horizons, and breaking new frontiers.

With my presence today, I would like to underline, once again, the Government’s firm commitment to supporting Cyprus’ maritime industry, through policies that drive sustainable growth of the shipping sector.

The Cyprus Ship Registry has grown notably more than 18%. This is the highest point since the establishment of the Deputy Ministry of Shipping in March 2018, and the highest point of the last 25 years. At the same time, the number of companies registered in the Cyprus Tonnage Tax System has also increased during the same period by 15%.

We do not stop here. We keep pushing to expand the horizon. During my visit in New York in April, the interest of new companies to establish offices and business in Cyprus was palpable. Shipping companies worldwide choose to register new building vessels under the Cyprus flag. And we continue strengthening the bilateral relations with other maritime countries, enhancing the global exposure of Cyprus’ shipping and its voice in the international fora. A strong example is my visit to Finland last week, where I was accompanied by the Deputy Minister of Shipping, and during which shipping cooperation was at the forefront. The visit was marked by a successful business shipping forum from both Cyprus and Finland maritime clusters.

While we constantly strive to enhance the competitiveness of Cyprus’ shipping, a new action was added under the Shipping Deputy Ministry’s flagship projects. The focus is on developing policies to further develop and attract services related to Cyprus shipping, particularly in services of technology, research and development (RND), and pleasure yachts.

Last October, the Council of Ministers approved the national strategy for the cruise tourism in Cyprus, a priority and a longstanding request of the CSC. The first phase of the implementation of the strategy has recently been completed. The current landscape of the cruise sector in Cyprus was mapped, and key competitive advantages and opportunities were identified, as well as strengths, weaknesses, and areas of untapped potential. During the second phase of the implementation, which is expected to be finalised by the end of July, a detailed action plan will be developed, creating the necessary framework for a sustainable growth of the cruise tourism in Cyprus.

After a demanding and challenging period during 2024, it is very promising that this year the calls of cruise ships in Cyprus are expected to significantly increase. Moreover, the port of Lemesos was chosen by a cruise company as a home port for cruises in the Mediterranean Sea. We are confident that through the implementation of the national strategy and collective action by all the stakeholders Cyprus will develop into an attractive destination for the cruise ships.

At the same time, the passenger maritime link between Cyprus and Greece will continue for a fourth consecutive year, following the approval by the Council of Ministers for a three-year extension. The interest by passengers in this service is increasing each year, offering an alternative mean of travel to Europe through Greece, to persons that for any reason are unable to use the typical air transport.

Sea connectivity with other neighbouring countries is also very important. In this regard we are particularly pleased that there is an interest by companies to establish passenger maritime links, which we are ready to support.

We are well aware of the challenges the maritime industry continues to face – from geopolitical turbulence to the green and digital transition of the sector, and the shortage of skilled personnel. We understand the pressure these exert on the shipping industry, which is a sector that already faces sui generis challenges.

Last month, during the deliberations of the Marine Environment Protection Committee (MEPC 83), the International Maritime Organization (IMO) took an ambitious decision by approving the draft legal text for the “IMO Net-Zero Framework”. Cyprus fully supports the work of the IMO, aiming to ensure a level playing field in international shipping.

At the same time, as we all know, the European shipping industry is a strategic and an economic pillar of the European Union (EU), and is still a large player on the international shipping arena. In recent years, the EU shipping industry has been negatively affected by global competition, protectionism, and third countries’ policies on sustainability, seaborne trade, and climate change.

The recent Draghi report firmly recognises the global leadership of the European shipping and the need to maintain and safeguard its international competitiveness.

For this reason, a solid, concrete, and ambitious policy framework for the EU maritime industry is vital. This framework must take into consideration the uniqueness of shipping and its particularities, such as the international nature and the need for a sustainable growth of the sector.

Cyprus is gearing in full speed to assume the Presidency of the Council of the EU in the first semester of 2026. Shipping will be amongst our priorities. The competitiveness of the maritime industry is expected to be a core issue, while we will be hosting here, in Lemesos, an informal Ministerial meeting for maritime affairs.

Prior to concluding, I would like to congratulate the new President of the CSC Mr Andreas Neophytou and all the elected members of the new board of directors. I wish you all a productive term.

Lastly, I wish to pay special tribute to Mr Themis Papadopoulos, the past President of the Chamber, for his high level of dedication and commitment in strengthening the shipping sector in Cyprus.

Dear Themis, thank you very much for your cooperation.

In closing, let me assure you once again of my personal commitment, of the Government’s commitment to a thriving, competitive, growing Cyprus shipping sector.

Together, we can reach new horizons.

(RM/GS/MS)

Address by the President of the Republic of Cyprus, Mr Nikos Christodoulides, at the 36th General Annual Meeting of the Cyprus Shipping Chamber

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