The shipping sector, which is of vital importance to the global economy, has been facing several challenges in recent years. The coronavirus pandemic, the war in Ukraine, and most recently, the war in Gaza, with the consequent malfunction of the Suez Canal, have created a plethora of problems, the impact of which is evident on the economies.

At the same time, the sector is called to implement vital reforms and defining milestones, such as the green and digital transition and its adaptation to the requirements of the ESG criteria. Shipping's path to sustainability passes through key points, such as the utilisation of technology, investment in research and technology, upskilling of workers, as well as the issue of equal work and equal pay.

Professionals from the shipping industry in Cyprus had the opportunity to attend an especially remarkable discussion, during the event organised by PwC Cyprus on Tuesday, January 23, 2024, titled "Setting Sail for Success."

Cleo Papadopoulou, PwC Cyprus Partner, in charge of Transportation and Logistics, stressed the importance of shipping for the Cypriot economy, mentioning that companies operating in this sector are called upon to ensure their sustainability by upgrading and making their business models more efficient. "The shipping sector", Ms Papadopoulou pointed out, "has a decisive role to play in the implementation of the great goal that is part of ‘Vision 2035’, for a Cyprus that will be able to offer ideal conditions for its residents, workforce, entrepreneurs, and investors".

Dr Stelios Himonas, Director General of the Deputy Ministry of Shipping, addressed a greeting at the conference where a series of concerns, that preoccupy the shipping industry, were analysed. These concerns include: tax issues, the EU emissions trading scheme and its impact on the sector, the Corporate Sustainability Reporting Directive, pay transparency, personal data privacy, artificial intelligence, and service improvement.

It is worth noting that among the speakers, of the several topics discussed, were Dr Theodoulos Mesimeris, Senior Environmental Officer, and Mr Dimitrios Sakipis, ESG Leader of PwC Greece.