Cyprus is set on becoming a leading voice in maritime policy and bolstering its reputation as a global shipping hub, Shipping Deputy Minister Marina Hadjimanolis said during an event in Athens.

Reviewing the achievements of the Cyprus registry office in Greece, Hadjimanolis told business outlet Newmoney that “we managed to reach the goals we set for increasing the strength of our registry in 2024”.

“Since the beginning of 2024, 170 new ships have been registered in the Cyprus registry with a gross tonnage of over 4 million tons, with the strengthening of the registry (in net tonnage) since September 2023 being around 14 per cent,” she added.

She also noted that Greek shipping companies have played a key role in this growth.

“These ships are mainly Greek owned. Greek shipping companies support the Cyprus registry,” she stated.

Hadjimanolis also pointed to the registry’s economic contribution.

“The companies that are integrated into our tax system increased by 12 per cent and an increase in revenues of around 15 per cent,” the minister said.

Looking ahead to 2025, Hadjimanolis laid out the Deputy Ministry’s priorities, including promoting maritime education, advancing digitalisation, and encouraging women to enter and stay in the shipping industry.  

According to Hadjimanolis, the Shipping Deputy Ministry’s 2025 goals will include initiatives to support maritime education, with a particular emphasis on empowering women to pursue and thrive in the challenging shipping industry.

Additionally, advancing digitalisation within the sector will be a key focus.

“Above all, we want to maintain personal contact with the people and companies that have supported us for so many years,” she said. 

Discussing revenue growth, Hadjimanolis emphasised the industry’s resilience. “To date, there has been a 10 per cent increase in the Deputy Ministry’s revenues, compared to the 2024 budget,” she said.

“Cyprus shipping has demonstrated remarkable resilience to the challenges presented and continues to offer quality services to the shipping industry, while the contribution of shipping to the national economy amounts to 7 per cent,” Hadjimanolis added.

What is more, Hadjimanolis stressed that cooperation with the private sector would be critical to maintaining momentum.

“Despite the challenges, we are confident that with the enormous efforts we make as a government and the close cooperation we have with the private sector, we will be able to keep our shipping at a pace of growth and positive performance,” the minister explained.

The Cypriot minister also touched on the broader economic role of shipping, pointing out that it fuels other sectors.

“The overall offering of shipping, in all sectors, since through the shipping complex, companies providing similar services have developed, such as fuel, technology, software, law, accounting among others,” Hadjimanolis concluded.