Cyprus’ shipping industry has never been stronger, and our ambition has never been greater, President of the Republic, Nikos Christodoulides, said on Wednesday. 

He was addressing the 37th General Assembly of the Cyprus Shipping Chamber, held in Limassol.

In his speech, President Christodoulides noted that, in 2026, Cyprus’ shipping sector is "stronger than ever", noting that the Cyprus Ship Register has grown by 23% since September 2023, reaching its highest level in the last 25 years, and revenues from the ship management sector increased by 19% between the first half of 2023 and the second half of 2025, while revenues from the Tonnage Tax System increased by 8.6% in 2025 compared to the previous year.

At the same time, he noted that Cyprus is also investing in further strengthening its international footprint, noting its re-election to Category C of the International Maritime Organization (IMO) Council, securing 7th place globally, compared to the 12th place it secured two years ago.

“For the first time, Cyprus holds the position of Vice-Chair of the IMO Legal Committee, a milestone in our maritime diplomacy and a recognition of the expertise we bring to global decision-making,” he said.

In the context of strengthening Cyprus’s international footprint, President Christodoulides also referred to the further deepening of the country’s cooperation with partners in the Persian Gulf region and the wider region, through the signing of memoranda of cooperation and the launch of the first Cyprus-Egypt Joint Maritime Committee.

As he said, the continuous presence in international shipping hubs ensures that Cyprus is part of every important shipping discussion that shapes the future of the industry. “Cyprus does not merely observe global developments, but is part of shaping them,” he added.

The President also said that Cyprus continues to look to the future, building infrastructure that supports long-term national development, noting the launch of the one-stop-shop service, the digital transformation of the Deputy Shipping Ministry, the creation of advisory committees on the competitiveness of our flag and shipping cluster, as well as initiatives and incentives regarding environmental issues.

“Everything points in the same direction: a modern, flexible, service-oriented maritime administration,” he noted, while also referring to the Cyprus–Greece passenger ferry connection, which “proves that when you offer citizens new opportunities, they embrace them.”

Regarding cruise tourism, he expressed the view that it is “rebounding strongly” and noted that, in 2025 alone, arrivals increased by 30%, reinforcing Cyprus as a destination with strategic potential.

Furthermore, he continued, the Government is in the final stages of implementing the national strategy to boost cruise tourism in Cyprus, “which will lead to a targeted action plan,” while noting that, at the same time, a more attractive framework for yachts is being developed.

Emphasizing that investment in human capital remains at the heart of the Government’s long-term strategy, the President said that maritime education is being strengthened, the next generation is being prepared for the green and digital transition, and gender equality is being promoted throughout the sector.

During his speech, President Christodoulides also spoke about the initiatives of the Cypriot Presidency of the Council of the EU, which “provided an opportunity to put shipping at the forefront, especially at a time when strengthening European competitiveness is a key element of the European strategy for autonomy.”

“Throughout the Presidency, Cyprus has also been committed to ensuring that the EU speaks with clarity, unity, and confidence as global maritime regulation continues to evolve,” he added.

In conclusion, the President of the Republic reiterated that “Cypriot shipping has never been stronger, and our ambition has never been greater,” and conveyed that “together, with unity, confidence, and vision, we are shaping a future in which Cypriot shipping will continue to rank among the best in the world.”

CNA/SK/KA/EPH/2026

ENDS, CYPRUS NEWS AGENCY