Cyprus Mail
Business

Shipping revenue rises 9.3% in H1 companies leave crisis-stricken Greece

By Stelios Orphanides

Cyprus’s revenue from ship management increased 9.3 per cent in the first half of 2015 to €464m compared to the second half of 2014 as Cyprus became more attractive to Greek shipping professionals, the Central Bank (CBC) said.

“Germany remains the most important country in terms of revenue, despite a reduction in its share,” the CBC said in a statement on its website on Thursday. “Vietnam, Russia, and the Marshall Islands also demonstrate a similar trend, but to a lesser extent, while Singapore has increased its share. Greece on the other hand appears to be gaining a significant share in the list of revenue contributing countries”.

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