Newsroom
Cyprus’ shipping industry is reaching new highs, with the country strengthening its position as one of the world’s major maritime hubs at a time when global trade and regional instability continue reshaping international shipping routes.
Speaking at the 37th General Assembly of the Cyprus Shipping Chamber in Limassol on Wednesday, Nikos Christodoulides said Cyprus shipping is now “stronger than ever,” pointing to sharp growth in ship registrations, rising revenues, and expanding international influence.
For many Cypriots, shipping may operate quietly in the background compared with tourism or real estate, but it remains one of the island’s most important economic pillars, supporting thousands of jobs directly and indirectly through legal, financial, insurance, and port services.
According to the president, the Cyprus Ship Register has grown by 23% since September 2023, reaching its highest level in 25 years. Revenues from the ship management sector also rose by 19% between the first half of 2023 and the second half of 2025, while income generated through the country’s tonnage tax system increased by 8.6% last year.
Christodoulides said Cyprus is also gaining a stronger voice internationally. The country was recently re-elected to Category C of the International Maritime Organization council, climbing to seventh place globally compared with 12th place two years ago.
He also highlighted Cyprus becoming vice-chair of the IMO Legal Committee for the first time, calling it a major milestone for the country’s maritime diplomacy.
Beyond numbers, the government is trying to position Cyprus as a modern shipping and transport center through digital upgrades and closer international cooperation. The president referred to new partnerships with Gulf countries and Egypt, including the launch of the first Cyprus-Egypt Joint Maritime Committee.
Officials say efforts are also underway to modernize services through a digital transformation of the Deputy Shipping Ministry and the creation of advisory committees focused on making the Cyprus flag more competitive internationally.
The government is also linking shipping growth to wider economic opportunities for ordinary Cypriots, including the return of the Cyprus-Greece passenger ferry connection, which officials say has proven popular with travelers looking for alternatives to air travel.
Cruise tourism is also showing strong growth, with arrivals rising by 30% in 2025, according to the president. Authorities are now finalizing a national strategy aimed at expanding cruise tourism further and creating a more attractive environment for yacht tourism.
Christodoulides said the country is also investing in maritime education and training to prepare younger generations for changes linked to green energy and digital technology in the shipping industry.
He added that Cyprus intends to use its role within the European Union to push shipping higher on Europe’s strategic agenda as competition and global maritime regulations continue evolving.
