President pledges to bolster EU shipping during Cyprus presidency

President Nikos Christodoulides on Monday said that one of the key priorities of the Cypriot Presidency of the EU Council is to ensure the competitiveness of European shipping.

He also spoke about the progress achieved by the Cypriot maritime sector, which has recorded robust growth over the past two years.

During his address at the opening of the Maritime Cyprus 2025 Conference in Limassol, the president said that the event’s title, “Unlocking the Future of Shipping”, reflects both today’s intricate challenges and the enduring resilience of the maritime industry.

He added that his presence at the conference demonstrates the importance his government places on the maritime sector.

Referring to Cypriot shipping, Christodoulides said that “the numbers speak for themselves“, emphasising that Cyprus holds one of the largest fleets in the world and operates across all shipping-related domains.

He highlighted that “in the past two years, Cypriot shipping has recorded impressive growth” with the Cypriot registry increasing by 20 per cent, the greatest rise it has experienced in two decades.

What is more, the number of maritime companies based in Cyprus grew by 15 per cent, while the contribution of ship management firms to the country’s economy increased by 27 per cent.

He said the government is moving forward with the digitalisation of services provided by the Deputy Ministry of Shipping, announcing that some of those services will be brought into operation next week.

Christodoulides also talked about the vast potential of the cruise sector and the national cruise strategy that was approved by the Cabinet last October, stating that a related action plan will be prepared soon.

He affirmed that the objective is to promote Cyprus as an attractive and competitive cruise destination.

On the upcoming Cypriot Presidency of the Council of the EU, the president said it constitutes “a national mission to be undertaken with both realism and ambition”.

He stressed that a more autonomous EU must be shaped in areas from economy and trade to security and defence, adding that one of the presidency’s priorities is to safeguard the competitiveness of European shipping.

The president’s address follows remarks made the previous evening at a dinner at the Presidential Palace, where Christodoulides said that “one of the government’s main goals has been achieved” referring to the strengthening of the Cypriot ship registry.

He reported that the registry recorded growth nearing 20 per cent over the past two years and described the conference as now being “firmly established as a significant institution” both domestically and internationally.

Christodoulides said that the support of the shipping community was “without a doubt a vote of confidence in Cypriot shipping and in our policies” and expressed gratitude for their multifaceted contributions.

He observed that global shipping faces many challenges, often arising from geopolitical developments beyond the industry, but he asserted that the sector “continues to adapt and play a vital role in the global economy”.

In addition, the president emphasised the need for strengthened cooperation among the private sector, governments and international organisations.

He also underscored the role of the International Maritime Organisation, welcomed its Secretary-General Arsenio Dominguez, and reaffirmed Cyprus’s long commitment to maritime governance, citing its uninterrupted election to the IMO Council since 1987.

The president also highlighted the growth of revenues from ship management (which reached €918 million in the second half of 2024, corresponding to 5.28 per cent of GDP) and the 15 per cent rise in firms registering under Cyprus’s tonnage tax.