2026 begins with significant momentum for Cyprus as the it assumes the Presidency of the Council of the European Union. An exceptional opportunity to place Cyprus firmly on the European stage. This Presidency allows Cyprus to highlight the strategic significance of Shipping not only as a cornerstone of the national economy, but also as a decisive contributor to Europe’s competitiveness, green transition and energy security. It is also a timely opportunity to enhance Cyprus’ international role as a reliable maritime centre and to promote initiatives that can generate long-term benefits for the European and global shipping community.
The decarbonisation of Shipping remains the defining challenge of the next two decades. The one-year postponement of the IMO’s Net Zero Framework (NZF) has bought the global industry some valuable time, to deepen impact assessments, strengthen collaboration and advance practical and realistic pathways for an orderly transition. However, the delay also brings risks. The longer the sector operates without a global market-based measure, the higher the likelihood of regulatory fragmentation. Regional schemes such as the EU ETS will continue to expand, potentially creating parallel national systems, overlapping compliance obligations and enhancing investment uncertainty.
For Cyprus and for Europe, a unified and globally harmonised regulatory mechanism under the IMO remains the only viable route toward a fair, effective and investment clarity transition. The IMO MEPC Extraordinary Session in October 2026 will be a critical moment for Member States to demonstrate collective ambition and deliver implementable, globally consistent measures that address the needs the industry and also secure the viability and sustainability of the small and medium size companies that form the backbone of European shipping.
Regardless of the outcome of the upcoming IMO discussions, the industry is already moving forward with testing, piloting and implementing greener technologies. But for true acceleration, one element remains essential: Clarity. And clarity can only come from a coherent, harmonised and globally applied regulatory framework.
At the same time, a critical challenge that demands immediate attention is the significant gap in training, reskilling and upskilling opportunities for seafarers. As the industry moves toward new technologies and the adoption of “zero or near-zero” emission fuels, it is essential to ensure that crews are fully equipped to operate these systems safely and effectively. Developing and implementing specialised training programmes will be vital not only for supporting the decarbonisation transition, but also for safeguarding maritime safety, operational reliability and long-term competitiveness. Investing in people must therefore go hand in hand with investing in technology.
Last year continued to bring also significant geopolitical challenges. Ongoing conflicts have created persistent logistical and regulatory pressures, while the announcement of potential tariffs further amplified uncertainty. In 2026, global shipping will require flexibility and foresight to navigate these and any future shocks. Companies may be required to reassess established trade routes, plan alternative logistics options and deploy advanced digital monitoring systems to respond quickly to emerging conflicts, sanctions or protectionist measures. Such geopolitical shifts are already resulting in longer transit times, higher operating costs, increased congestion around alternative corridors and the rerouting of key supply chains. Most critically, these developments pose heightened safety risks for seafarers who must transit unstable regions.
Finally, regulatory complexity adds another layer of challenge. Europe is working on the Omnibus package to simplify reporting requirements and reduce administrative burdens, a welcome step that will allow companies to focus resources on operational resilience and decarbonisation investments rather than compliance alone. Clear, harmonised regulations will be critical to provide predictability for the industry, especially in a year where geopolitical tensions continue to reshape trade flows.
The Chamber closely monitors these developments and keeps its Members well informed. However, the unpredictable nature of these events makes it challenging to provide meaningful guidance and even more difficult for Member-Companies to make confident strategic decisions. As always, the Chamber remains a staunch advocate for free trade and open borders, holding firmly to the view that protectionist policies are disadvantageous to all and undermine global prosperity.
The Chamber is also steadfast in its commitment to ensuring safe trading routes and the protection of seafarers, whose vital role sustains international trade and guarantees the uninterrupted flow of goods worldwide. Looking ahead, we hope that Cyprus’ EU Presidency will provide a platform to promote policies that support a stable, rules-based maritime environment, one capable of absorbing geopolitical challenges, simplifying regulatory requirements and maintaining the seamless flow of global trade.
- Director General of the Cyprus Shipping Chamber
