The year 2025 is expected to be another challenging year for international shipping, which should remain resilient and continue to adapt and grow, President Nikos Christodoulides said on Friday evening.
Addressing the annual dinner of the Cyprus Shipping Chamber in Limassol, Christodoulides assured that his government would continue to support Cyprus’ shipping industry, which has “grown impressively over the past two years”.
“We have a common goal: enhancing the competitiveness of our maritime industry and promoting sustainable economic growth,” he said.
The president said, “2025 is expected to be another challenging year for international shipping. As you are well aware, the pressure on the industry is immense.”
“Yet we know all too well that challenges can be a fertile ground for opportunity to grow and thrive,” he added.
He explained that “in recent years, and especially over the past two years, we have witnessed significant geopolitical developments worldwide.”
“Russia’s invasion of Ukraine, the war in Gaza, the Houthi attacks disrupting cargo transport through the Suez Canal – just to name a few – have impacted international shipping. An industry that, due to its global character and particularities, remains inherently vulnerable to geopolitical and politico-economic developments, highlighting the need for resilience and adaptability,” he said.
He added that “at the same time, the challenges of decarbonising the sector, advancing digitalisation and addressing the shortage of qualified personnel in maritime transport, have added further strain to the shipping industry.”
“In the face of these challenges, international shipping must remain resilient and continue to adapt and grow,” the president said.
Christodoulides assured that his government would “continue to steadfastly support our shipping industry, as well as your efforts towards sustainable growth.”
“Cyprus shipping has grown impressively over the past two years. As a result, in the last 16 months, the Cyprus ship registry has expanded by 18 per cent in terms of gross tonnage, reaching its highest point since the establishment of the Shipping Deputy Ministry in March 2018.
“Moreover, the number of companies registered under the Cyprus Tonnage Tax System has also increased by 15 per cent during the same period. This notable growth has gone hand in hand with the growth in the Cyprus economy over the past two years, as reflected in the successive upgrades by major rating agencies – the result of the Government’s prudent fiscal policy.
“This policy that brings stability in the financial sector and the continuous and determined reforms which we have undertaken. This is the path we will continue to walk with confidence and determination,” the president said.
He added that, “within this context, enhancing the competitiveness of Cyprus shipping remains high in our priorities.”
“We are committed to further strengthening both the framework governing the services provided by the Shipping Deputy Ministry as well as Cyprus’s role in global maritime affairs.
“In this context, and as part of our commitment to the green and digital transition, the digitalisation of services of the Shipping Deputy Ministry is progressing. In fact, we are set to launch the first digital services by the end of May 2025,” he said.
Christodoulides also said that “a new initiative has been launched under the Shipping Deputy Ministry’s flagship projects, focusing on developing policies to further expand and attract services related to Cyprus shipping.”
“This initiative places particular emphasis on services related to technology, research and innovation, and pleasure yachts,” he added.
The president expressed certainty that “the exceptional collaboration and close partnership between the government and the Cyprus Shipping Chamber will continue to flourish, paving the way for further achievements and a sustainable, prosperous future.”
Prior to concluding, he congratulated Alexis Iosifides on his appointment as the new director general of the Cyprus Shipping Chamber.
He also paid “special tribute to my friend” Thomas Kazakos, the newly appointed secretary general of the International Shipping Chamber.
Source: Cyprus Mail
