35th Annual General Meeting of the CSC

31.05.2024

The Cyprus Shipping Chamber held its 35th Annual General Meeting on 21.05.2024, at the Four Seasons Hotel in Limassol. 

 The Meeting was attended by Political Party representatives, State Officials, Ministers, Members of the House of Representatives, Diplomats, representatives from Professional Organizations and participants of the Shipping Industry in Cyprus.

The Meeting was addressed by the President of the Republic of Cyprus Mr. Nikos Christodoulides, the President of the House of Representatives of Cyprus Mrs. Annita Demetriou, and the President of the Cyprus Shipping Chamber, Mr. Themis Papadopoulos.

In his address, the President of the Republic emphasized the multifaceted and indispensable contribution of the Shipping Chamber to the continuous development of Cyprus Shipping and reiterated the Government’s commitment to strengthening its close cooperation with the Chamber and its political support towards the Shipping sector. He presented also some very important achievements in this respect:  

  • an increase of 5.5% during the last 6 months in the fleet of Cyprus flagged seagoing vessels.
  • an increase of 14% to the number of companies registered in the Cyprus Tonnage Tax System, reaching a total of 420.
  • the establishment of the Advisory Committee on Competitiveness and Quality Enhancement of the Cyprus Flag and the Advisory Committee on Competitivenes of the Cyprus Maritime Cluster. Their aim: to further enhance the competitiveness of the Cyprus flag and Cyprus shipping.
  • the commencement of operations of the One Stop Shipping Centre in November. The Centre aims to provide quality service to all shipping companies as well as companies whose activities are related to shipping and are based in Cyprus.
  • the reelection of Cyprus in the Council of the International Maritime Organization (IMO); an additional demonstration of Cyprus’ strong voice in shipping in international fora.
  • the allotment of government land for the construction of the new premises of the Shipping Deputy Ministry.
  • the approval by the Council of Ministers of a revised set of green incentives to reward ships that demonstrate effective greenhouse gas emission reductions. From January 2024, the annual tonnage tax for ships registered in the Register of Cyprus Ships will be reduced by up to 30% for each ship that demonstrates effective greenhouse gas emissions reduction measures, ensuring that shipowners are rewarded for their efforts for decarbonisation of the shipping sector.
  • the upgrading and targeted evolution of the “Maritime Cyprus 2023” conference, organised last October, resulted in a record high attendance, with over 1000 participants from 35 countries, establishing it as one of the best and most high-quality maritime conferences worldwide. 

The President of the House emphasized the fact that the Shipping sector, despite the challenges faced, is a strong and stable pillar of the Cyprus Economy. She further upheld, on behalf of all members of the House, their commitment in continuing the close cooperation with the Chamber aimed at further improving the Cyprus Shipping.

The President of the Chamber, Mr. Themis Papadopoulos, referred to the Chamber’s milestones since its establishment, as well as to the highlights and challenges of the past year including Shipping’s green transition, taxation issues and geopolitical pressures, and exerted both on Shipping as well as on the global supply chain. He stated that the year 2023 has proven to be yet another challenging year for the shipping industry as disruptions to the global supply chain due to the war in Ukraine have been further compounded by new challenges in the Red Sea involving attacks against commercial ships, giving rise to the need to protect the ships and crew navigating the area. At the end of his speech, he assured the audience that despite these challenges, the shipping industry remained one of the most important contributors of the global and the Cyprus economy, continuing to transport 90% of world trade and supplying vital goods and raw materials.

The Chamber honored its immediate past President, Filippos Filis, for his successful term as President of the European Community Shipowners’ Associations, a role held for the first time by a Cypriot. The maritime cluster expressed satisfaction with the Chamber’s proactive approach to addressing the challenges facing the merchant shipping industry amidst global turbulence. The Chamber’s leadership, including Director General Thomas Kazakos, is commended for their relentless efforts to strengthen Cyprus shipping and advocate for the Cyprus Flag’s prominence.