Deputy Minister of Shipping, Marina Hadjimanolis, revealed yesterday that the Cypriot sea-going vessel fleet has registered a significant 5.5% increase, approximately 1.1 million tons, over the past six months.

At a press conference, Hadjimanolis presented the Deputy Ministry's achievements and initiatives during the first year of President Nikos Christodoulides' government. She emphasized the sustained support from traditional shipowners and the growing interest from newcomers, contributing to the Cypriot flag's rising prominence in global shipping.

Emphasizing the strategic focus on strengthening the Cypriot registry, Hadjimanolis noted the achievement of a notable capacity increase, reversing a two-year decline. "The dynamic of the Cypriot flag is gaining new impetus," she stated, highlighting a 14% increase in EU-approved Tonnage Tax System companies, now totaling 420, over the last 12 months.

She also mentioned the successful maritime passenger connection between Cyprus and Greece, now in its second year, citing impressive passenger, vehicle, and pet transport numbers. This service, she noted, demonstrates sustainability and necessity, with plans to continue into a third year starting May 29th.

Hadjimanolis underscored the shipping sector's critical role in Cyprus' economic and international development. "Our country is a renowned maritime complex, offering a spectrum of shipping-related activities," she explained. She attributed the Cypriot shipping sector's success to service upgrades, ship safety, staff expertise, operational efficiency, flexibility, and vital international agreements.

Celebrating 60 years of the Cypriot registry in 2023, Hadjimanolis expressed pride in its history and optimism for future growth and competitiveness. She stressed the importance of continued collaboration with the global maritime community and the implementation of further initiatives.

Part of these initiatives includes promoting the Cypriot registry domestically and internationally, with targeted actions to attract quality vessels. "The rise of the Cypriot flag in the PARIS MoU White List from 13th to 8th position reflects our commitment to high-quality and safety standards," she remarked, adding that legislative enhancements have been made to boost navigation safety and marine environment protection.

On environmental initiatives, the Deputy Minister mentioned the green incentives approved by the Council of Ministers, rewarding ships for greenhouse gas emission reductions. Starting January 2024, a tax reduction of up to 30% will be applied based on each ship's climate impact measures.

Hadjimanolis also highlighted infrastructure developments, including the construction of a new building for the Deputy Ministry of Shipping and the recent launch of the One Stop Shipping Center. She emphasized Cyprus' re-election to the International Maritime Organization Council for 2024-2025 as a significant achievement under challenging geopolitical conditions.

The commitment to gender equality in the shipping industry was another focal point, with Cyprus' candidate receiving the first Gender Equality Award from the International Maritime Organization. Additionally, efforts to engage the new generation in maritime careers and the success of the "Maritime Cyprus 2023" conference, which attracted over 1000 delegates from 35 countries, were noted.

Concluding, Hadjimanolis announced the first Commonwealth Ministerial Meeting on the Oceans, themed "Our Resilient Common Ocean: From Cyprus to Samoa." Scheduled for April 18 and 19, 2024, this event will gather representatives from over 30 Commonwealth countries, reinforcing Cyprus' commitment to global maritime collaboration and sustainability.