Cyprus stands today as one of the world’s most dynamic shipping centers, blending tradition with forward-looking policies that place sustainability, digital transformation and competitiveness at the forefront. As the island nation prepares to host the Maritime Cyprus 2025 Conference in Limassol, the Shipping Deputy Ministry outlines its vision: strengthening Cyprus’s global maritime presence, supporting shipowners through innovation and incentives, and shaping the international dialogue on decarbonization and green transition. With its robust flag of quality, its proactive role within the IMO and EU, and its comprehensive maritime services cluster, Cyprus is poised to “unlock the future of shipping”
alongside industry leaders worldwide.
WHAT IS THE STRATEGIC ROLE OF CYPRUS IN TODAY’S GLOBAL SHIPPING ENVIRONMENT?
Geographically, located at the crossroads of Europe, Asia and Africa, Cyprus holds a highly strategic role in the global shipping environment and has evolved into one of the world’s leading shipping centers. Braced with a robust and transparent regulatory framework, a competitive EU-approved tonnage tax system and a strong focus on quality and safety. Moreover, Cyprus plays a proactive role in international maritime affairs. The Shipping Deputy Ministry actively engages with the IMO, EU institutions, and global stakeholders to promote sustainable shipping, digitalization, decarbonization, and the welfare of seafarers. Cyprus also serves as a comprehensive maritime services cluster, offering high-value services including ship management, maritime law, insurance, and marine technology. In today’s fast-evolving maritime landscape, Cyprus continues to position itself not only as a flag of quality but also as a forward-looking maritime nation, committed to excellence and reliability.
WHAT ARE THE KEY PRIORITIES OF THE SHIPPING DEPUTY MINISTRY FOR THE 2025–2026 PERIOD?
The SDM’s priorities, are always aligned with the ongoing transitions of the global maritime industry. That said, focused on enhancing its global maritime presence, advance digital and green transitions, while at the same time, strengthening international partnerships. A key priority for strengthening its global maritime presence, will be Cyprus’ re-election to the International Maritime Organisation (IMO) Council, under Category C, for the term 2026-2027, ensuring active participation in international global maritime decision-making. Cyprus has been a member of the IMO, since 1987. Moving on to the first term of 2026, Cyprus will assume the rotating Presidency of the Council of the European Union. During the Cyprus Presidency of the Council of the European Union (CY PCY), the Shipping Deputy Ministry will organize an informal ministerial meeting, bringing together European Ministers responsible for Maritime Affairs. This significant event will take place in the capital of Cyprus, Nicosia, where key stakeholders will convene to discuss critical maritime issues. During the Cyprus Presidency of the Council of the EU, maritime transport, constitutes a key priority. Along the same margins, Cyprus will be hosting the European Maritime Day from 21-22 of May 2026. Amongst others, one of the upcoming flagship projects of the Shipping Deputy Ministry, is the adoption of policies to further develop and attract services related to Cyprus shipping, particularly in services of technology, research and development (RND) and pleasure yachts. For this reason, the Shipping Deputy Ministry, has decided to proceed with a targeted study to map the shipping cluster. Moreover, one of our key priorities, is the restructure of the network of independent marine surveyors, to monitor and conduct inspections of ships flying the Cyprus flag. The aim is to strengthen and expand the network, to further enhance the safety levels of Cypriot seagoing ships and the quality of the Cyprus flag. Overall, the key priorities of the SDM, reflect Cyprus’s commitment to reinforcing its maritime sector’s global standing, enhancing bilateral relations with nations worldwide, embracing
technological advancements, promoting sustainable practices in the shipping industry, enhancing its global fleet while at the same time, promoting maritime education, gender equality and the welfare of our seafarers worldwide.
HOW WOULD YOU ASSESS THE CURRENT STANDING OF THE CYPRUS FLAG IN TERMS OF QUALITY AND COMPETITIVENESS?
The Cyprus flag is globally recognised as a flag of quality, credibility, and competitiveness. It ranks among the largest flags in Europe and remains one of the top worldwide, not only in terms of fleet size but, more importantly, in terms of safety, compliance, and reputation. Our flag, consistently appears on the White Lists of the Paris and Tokyo MoUs. This reflects our strong commitment to high safety standards, environmental responsibility and operational excellence. The Cyprus flag is also supported by the EU-approved tonnage tax system combined with 24/7 support and an experienced maritime administration. Cyprus offers a highly appealing and efficient environment for shipowners and operators. Furthermore, we offer a cost-effective and quality-driven framework, with zero registration fees, simplified procedures, and a customer-oriented approach. Our continued efforts towards the complete digitalisation and regulatory alignment ensures that the Cyprus flag remains attractive to high-standard operators. The Cyprus flag represents maritime excellence and reliability, offering both commercial advantage and a regulatory framework,
making it a trusted choice for responsible shipping companies.
WHAT ACTIONS IS CYPRUS TAKING TO SUPPORT SUSTAINABLE AND GREEN SHIPPING?
Environmental sustainability is one of the most pressing challenges facing the global maritime industry today. The transition to cleaner technologies, the reduction of greenhouse gas emissions and elimination of marine pollution are key pillars in shaping the future of shipping. To support this transition, Cyprus has adopted a comprehensive and strategic maritime policy that places sustainability at its core. A notable initiative within this framework is the introduction of green incentives for shipowners registering vessels under the Cyprus flag. Ships that achieve measurable reductions in greenhouse gas emissions may benefit from up to a 30% reduction in annual tonnage tax, offering a clear financial motivation to invest in environmentally responsible technologies and practices. Cyprus is also fully aligned with the IMO Strategy on the Reduction of GHG Emissions and we are actively engaged in the relevant international dialogue to support its successful implementation. Through these efforts, the Shipping Deputy Ministry is committed to supporting a sustainable and resilient maritime sector, encouraging innovation, and supporting the transition toward a greener future for global shipping.
WHAT IS CYPRUS’ POSITION WITHIN THE EU AND THE IMO ON EMISSIONS REGULATION AND THE GREEN TRANSITION?
From Cyprus’ perspective, the green transition is not just about ticking a regulatory box, it is about securing the long-term competitiveness of our fleet. Our position remains clear; at both EU and IMO level. By supporting a balanced package, that combines a greenhouse gas levy with a global fuel standard, we encourage the use of low and zerocarbon fuels without distorting competition. In order to safeguard a level playing field, and the sustainability of the sector, uniform application is nonnegotiable. At the same time, we must provide the industry the tools to succeed. That being said, tackling fuel availability, investing in alternative fuel bunkering, ensuring shore side power in ports, and addressing the real cost challenges owners face during this transition. Those who act proactively, will find themselves not only compliant, but commercially ahead.
HOW DOES THE SHIPPING DEPUTY MINISTRY SUPPORT SHIPPING COMPANIES OPERATING IN OR BASED IN CYPRUS?
Cyprus has recently implemented several institutional and legislative measures aimed at facilitating maritime operations and enhancing its ship registry, delivering tangible benefits to shipowners and operators. One major institutional advancement, is the establishment of the One-Stop Shipping Centre. This specialized maritime service centre, aims to provide efficient, high-quality support to shipping companies and maritime-related businesses based in Cyprus. By centralizing the handling of administrative requests and procedures, the Centre significantly streamlines operations, reduces bureaucracy, and improves service across the sector. One of our main priorities, is accelerating digitalization of the services of the Shipping Deputy Ministry. Core services, like Seafarers Training and Certification, Tonnage Tax and Ship’s Registration, will be fully digitalized within 2025.
In addition, as aforementioned, we have overhauled our Environmental Incentives Scheme. As of 2024, Cyprus flagged vessels that reduce emissions beyond IMO benchmarks, can earn up to a 30% reduction in tonnage tax. In this way, we encourage investments in alternative fuels, as well as in energy saving technologies and smarter voyage operations. Finally, we are advocating for targeted tax relief, subsidies for alternative fuel retrofits and new builds, funding for shore power, and public private partnerships to scale up green fuel bunkering. It is about giving companies practical ways to decarbonize without undermining their bottom line. These initiatives, along with the Tonnage Tax environmental incentives, reflect Cyprus’s commitment to creating a modern, efficient, and business-friendly maritime environment.
ARE THERE ANY TECHNOLOGICAL OR INNOVATION-DRIVEN INITIATIVES BEING PROMOTED BY THE SHIPPING DEPUTY MINISTRY?
The Shipping Deputy Ministry of Cyprus is actively promoting a range of technological and innovation-driven initiatives as part of its long-term strategy to modernize the maritime sector, and improve the competitiveness of the Cyprus flag. A major focus is the digital transformation of maritime services. With the full digitalization, the Shipping Deputy Ministry (SDM) aims to improve its efficiency, competitiveness and sustainability.
Digital transformation will strengthen the global reputation of Cyprus shipping and will be a key point for Cyprus to maintain its competitive edge in the fast-evolving global maritime landscape. Digital transformation aligns also with the environmental goals of the Shipping Deputy Ministry to reduce its environmental footprint.
WHAT IS THE SIGNIFICANCE OF THE MARITIME CYPRUS CONFERENCE IN REINFORCING CYPRUS’ GLOBAL MARITIME FOOTPRINT?
The Maritime Cyprus conference is one of the most important events in the global maritime calendar and of tremendous significance for reinforcing Cyprus’s position as a leading maritime hub. Held biennially in Limassol, it serves as a major international platform where shipping professionals, government officials, industry leaders and global stakeholders gather to exchange knowledge, discuss emerging challenges, and explore new business opportunities. Maritime Cyprus is a vital instrument for strengthening Cyprus’s global maritime footprint and shaping the future of the industry in
line with the country’s strategic goals.
WHAT IS YOUR MESSAGE TO THE INTERNATIONAL PARTICIPANTS AND STAKEHOLDERS ATTENDING THIS YEAR’S CONFERENCE IN LIMASSOL?
I warmly welcome all international participants and stakeholders to this year’s Maritime Cyprus conference in Limassol, under the theme “Unlocking the Future… of Shipping”. The conference provides a unique platform to exchange ideas, build new partnerships and collectively address the challenges and opportunities that lie ahead, covering all aspects of shipping issues, including but not limited to, policy changes, funding, digital innovation and sustainable technologies, regulatory progress and decarbonisation. Together, let us unlock the future of shipping by building stronger
networks, inspiring innovation, and promoting a sustainable maritime industry that benefits us all. I look forward to meaningful discussions and fruitful collaborations throughout the conference.
- Marina Hadjimanolis Is The Shipping Deputy Minister To The President Of The Republic Of Cyprus
