Cyprus Business Now

Limassol-based Tototheo Maritime, a leading provider of maritime satellite communications and technologies, on Tuesday announced its partnership with Orion Reederei, a prominent ship management company based in Germany.

The company described the partnership as “a transformative move towards enhancing connectivity and crew well-being”.

The announcement noted that Orion Reederei manages a fleet of approximately 40 bulk carriers and is deeply committed to the welfare of its crew and operational efficiency.

Recognising the critical importance of reliable and seamless communication at sea, Orion Reederei has joined forces with Tototheo Maritime to harness the cutting-edge capabilities of Starlink, aiming to advance connectivity and crew satisfaction.

“The crew can now effortlessly communicate with their families and friends, share important moments, and access valuable information, regardless of our location,” Captain Sosnowski, Master of M/V ‘Pax’ said.

“Starlink’s dependable, high-speed internet access offered has significantly enhanced their overall well-being and morale onboard,” he added.

Mirko Labenda, IT Generalist at Orion Reederei, said that “we are thrilled to partner with Tototheo and offer our crew members the benefits of Starlink’s advanced satellite connectivity”.

“Our crew’s well-being is of utmost importance to us, and by providing reliable and high-speed internet access, we are ensuring they can stay connected with their families and friends while delivering their duties effectively,” Labenda explained.

“Tototheo’s expertise and support throughout the installation process have been exceptional,” he added.

In addition, Tototheo noted that the company “remains committed to delivering innovative and reliable satellite communication solutions to its clients worldwide”.

“We take pride in collaborating with Orion Reederei as they strive to provide top-notch connectivity and crew welfare on their vessels,” said Despina Panayiotou Theodosiou, co-CEO at Tototheo Maritime.

“This partnership underscores our shared vision of embracing cutting-edge technology to meet the evolving needs of the maritime industry,” she added.

Moreover, Theodosiou said that “the positive feedback received from Orion Reederei’s crew members reinforces the importance of reliable and high-speed connectivity at sea”.

“We are excited to continue supporting Orion Reederei in extending Starlink across their fleet, ensuring their crew remain connected,” the Tototheo Maritime co-CEO concluded.

The Industrial Production Index in Cyprus experienced a notable increase of 4.8 per cent on an annual basis in November 2023, driven by positive performance across various economic sectors.

According to a report released this week by the Cyprus Statistical Service (Cystat), the Industrial Production Index for November 2023 reached 138.5 units, with 2015 acting as the base year, reflecting a 4.8 per cent surge compared to November 2022.

For the January to November 2023 period, the index exhibited a 2.5 per cent increase compared to the same period in the previous year.

Within the manufacturing sector, a notable increase of 3.2 per cent was observed in November 2023 compared to the same month in 2022.

Significant percentage increases were also recorded in the water supply and material recovery sector, showing a remarkable 30.6 per cent surge.

Additionally, the supply of electricity experienced a growth of 7.8 per cent, while mining and quarrying activities increased by 6 per cent.

The Cyprus Stock Exchange (CSE) ended Tuesday, January 30 with losses.

The general Cyprus Stock Market Index was at 136.45 points at 13:19 during the day, reflecting a decrease of 0.23 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 82.79 points, representing a drop of 0.24 per cent.

The total value of transactions came up to €67,570 until the aforementioned time during trading.

In terms of the sub-indexes, the main and alternative indexes fell by 0.3 per cent and 0.14 per cent respectively. The hotel and investment firm indexes remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (-0.3 per cent), Petrolina (-0.92 per cent), Demetra (-1.34 per cent), Salamis Tours (no change), and Hellenic Bank (-1.3 per cent).