Cyprus Business Now

Cypriot company Tototheo Maritime, a leading maritime technology integrator and provider, announced on Thursday recently inaugurated its new office in Bremen, Germany.

Headquartered in Cyprus, Tototheo Maritime has been offering technology solutions to the maritime industry for over forty years, through its offices in Limassol and Piraeus, as well as through its partner offices in other regions.

“We strongly believe in building long-lasting and trusted relations with our partners and our
customers”, Tototheo co-CEO Socrates Theodosiou said.

“Our portfolio of services has evolved over the years, and we have had the vision to take us forward through the pandemic and many other challenges faced,” he added.

Theodosiou also explained that the company has grown stronger and more convinced that the future of shipping lies in collaboration and synergies with valued partners.

Teodor Jelev, who has joined the Bremen office as head of sales for Germany, has over 10 years of experience in the maritime industry.

“Our goal at Tototheo is to stay close to our partners and our customers, supporting them in their operations so we can grow together,” Jelev said.

The German maritime industry is characterised by its innovative, technology-focused and sustainability-conscious approach to conducting business,” he added.

“Tototheo being an organisation with a clear vision of technology within shipping, we are ready to support our customers by specifying their needs and helping them implement solutions that will enable them to grow more efficiently and sustainably”, Jelev concluded.

Deputy Minister of Shipping Vassilis Demitriades on Thursday flew to Portugal to participate in the Conference of the European Maritime Safety Agency (EMSA).

The conference is being held at the agency’s headquarters in Lisbon between 16 and 17 June 2022, on the occasion of ESMA’s twentieth anniversary.

According to a press release issued by the ministry,

“The conference will be addressed by European and global shipping officials such as the European Union Transport Commissioner Adina Valean, the Secretary-General of the International Maritime Organisation (IMO) Kitack Lim,” a press conference said.

Other speakers include MEP and Chairwoman of the Committee of Transportation and Tourism of the European Parliament Karima Delli, as well as other Ministers from EU Member States, including France, Greece, Poland, Latvia and Malta.

The Cypriot minister will also participate in a round table discussion on the course and future of European shipping over the next two decades.

In addition, Demetriades is expected to address the need for a more extroverted approach to the issues and challenges faced by global shipping, upon which the strategic vision and the new philosophy governing Cypriot Shipping are built.

Demetriades will return to Cyprus on the evening of June 17, 2022.

The Cyprus Stock Exchange (CSE) ended Thursday, June 16 with losses.

The general Cyprus Stock Market Index was at 71.09 points at 13:56 during the day, reflecting a drop of 0.62 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 42.65 points, which represents a decrease of 0.63 per cent.

The total value of transactions came up to €58,066.

In terms of the sub-indexes, the main and alternative indexes fell by 0.64 per cent and 0.53 per cent respectively, while the investment firm index rose by 0.97 per cent. The hotel index remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (-0.9 per cent), Demetra (+1.04 per cent), Hellenic Bank (-2.39 per cent), Salamis Tours (-5.65 per cent), Logicom (+1.07 per cent), and Atlantic Insurance (-3.23 per cent).