Cyprus Advances in Ocean Governance and Shipping Sector

16 May 2024

London Hosts Inaugural Cyprus Forum Focusing on Ocean Governance

In the heart of London, the Cyprus High Commission’s premises became a nexus for dialogue and collaboration as the inaugural Cyprus Forum London kicked off. Organised by ‘Oxygen for Democracy’ alongside the commission, the event marked an expansion from its traditional Cypriot roots, drawing in a diverse mix of politicians, academics, professionals, and sector representatives.

At the forefront of discussions was Shipping Deputy Minister Marina Hadjimanoli, who delivered a keynote speech highlighting the ocean’s integral role in Cyprus’s economy and cultural identity. Hadjimanoli addressed the complexities of ocean governance, stressing that such challenges demand a collective international effort.

“Cyprus recognises the immense value of our seas and oceans,” Hadjimanoli stated, underscoring the need for collaborative resolution to these pressing issues. She referenced the outcomes of a recent Commonwealth ministerial meeting in Cyprus, which led to a proposed declaration on sustainable ocean governance and the establishment of a Commonwealth Blue Charter Centre of Excellence on the island.

The Deputy Minister also shed light on the advancements within the shipping sector since the inception of her ministry in 2018. She noted a 5.5 per cent increase in new ship registrations over the past six months, elevating the Cypriot registry’s global standing. Cyprus’s reputation as a leading ship management centre was also mentioned, with over 200 companies calling it home.

Hadjimanoli extolled Cyprus as an international shipping industry hub, citing its competitive tax system, strategic location, streamlined regulatory framework, and expert workforce. She also touched on the digital transformation of maritime administration and the emphasis on fleet quality concerning safety and environmental standards.

The commitment of Cyprus to the International Maritime Organisation (IMO) was another focal point of Hadjimanoli’s address. In a nod to Cyprus’s progressive stance, she revealed that a Cypriot nominee would be receiving the first IMO Award for Gender Equality in International Shipping this Friday, further cementing Cyprus’s role in championing gender equality within the industry.

shipping industry

How is the shipping industry growing in Cyprus?

The shipping industry in Cyprus is expanding through strategic investments in infrastructure, a favorable tax regime, and by enhancing its maritime cluster with robust legal and regulatory frameworks.

Can the shipping industry sustain Cypruss registry growth?

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