Cypriot company Tototheo Maritime, a leading maritime technology integrator and provider, announced on Tuesday that it has been appointed as the official distributor and service partner for marine technology manufacturer Danelec in Greece.

After having first represented the Danelec brand for several years through its headquarters in Cyprus, Tototheo will now do so also through its office in Piraeus.

“Our team in Piraeus is fully prepared to handle Danelec product inquiries, service requests and support of Danelec products”, head of service at Tototheo Maritime Thanasis Lekkas said.

“In our premises, we keep stock of essential products readily available for immediate delivery and installation by our certified engineers, while we can also offer hands-on training as well as pre and after-sales support to our customers”, Lekkas added.

The company said that Tototheo and Danelec share a vision of a connected maritime ecosystem, while the integration of DanelecConnect with Tototheo’s solution portfolio offers a dynamic approach to the digitisation needs of the maritime industry.

“At Danelec we carefully select our partners, cooperating with organisations who have the same values as us, who are agile and look to the future with optimism and transparency,” Chief Commercial Officer at Danelec Marine Christian Kock said.

“We have built a relationship of mutual trust with Tototheo and we are confident this partnership will grow even more,” the CCO concluded.


The Pancyprian Cooperative Cooperation Promotion Company was established on Tuesday, aiming at promoting cooperative principles and values, as well as conducting studies for the registration of a new cooperative bank.

According to an announcement, the committee will work in a transparent manner, having as its main objective the presentation of a proposal that will lead to the establishment of a Cooperative Credit Institution, based on the principles and values ​​of the cooperative ideal.

Moreover, the efforts of the Pancyprian Cooperative Company for the Promotion of Cooperation will be made in parallel and in full consultation with the Comptroller of the Cooperative Companies, the Hellenic Capital Market Commission, as well as the Central Bank of Cyprus.

Finally, the announcement notes that as of March 15, applications will be accepted for any Cypriot citizens who wish to become members of the company and support its efforts.


The Cyprus Stock Exchange (CSE) ended Tuesday, March 15 with losses.

The main Cyprus Stock Market Index was at 64.12 points at 13:38 during the day, reflecting a drop of 1.49 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 38.49 points, which represents a decrease of 1.53 per cent.

The total value of transactions came up to €72,010.

In terms of the sub-indexes, the main and alternative indexes fell by 2.26 per cent and 0.04 per cent respectively. The investment firm index rose by 0.51 per cent, while the hotel index remained stable.

The biggest investment interest was attracted by the Vassilico Cement Works (-0.74 per cent), the Bank of Cyprus (-3.6 per cent), the Cyprus Cement Company (+0.97 per cent), Demetra Holdings (+0.55 per cent) and Hellenic Bank (-3.94 per cent).