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10 July, 2020
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Revenue from ship management dips

Revenue from the Cypriot ship management industry dropped in the first half of 2019

Source: CNA

Ship management revenues decreased in the first half of 2019 by €5 million, according to the results of the Ship Management Survey for the first half of 2019, concerning the transactions of resident ship management companies published Wednesday by the Central Bank of Cyprus.

More specifically, ship management revenues closed at €523 million during the first half of 2019, recording a decrease of €5 million when compared with the second half of 2018.

The main exporting destinations for the services of the ship management industry include Germany, Greece, Malta and Singapore.

The industry’s payments increased by €26 million during the period under review and comprised mostly of crew wages and training expenses.

Cyprus  |  shipping  |  revenue

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