Cyprus is in the ascendancy. It is expanding its offering to shipowners, shipmanagers and charterers, predicting growth in the Cyprus-registered fleet and an increase in shipping businesses relocating to Cyprus within the next 24 months. With a new Deputy Ministry of Shipping and a step towards a true national shipping policy, could Cyprus finally fulfil its potential?
New status for maritime administration underlines the importance given to the industry
However, the thorny issue of the Turkish ports embargo will have to be settled if the flag is to compete without a severe handicap
Latest From Cyprus
The pervading mentality in third-party shipmanagement has been ‘competition at all cost’. This has harmed the sector in the eyes of its customers. O’Neil is driving a reappraisal of management
Nasdaq-listed owner posted a net loss of $700,000 for the fourth quarter of 2020, however the deficit turned into an adjusted net profit of $1.1m after exclusion of non-cash losses booked on two vessel sales and an impairment loss recognised during the quarter
Numerous attempts have been made to contact East of England management office in Cyprus on the only telephone details provided, a 24-hour emergency number. There was no response to several emails
Cyprus’ shipping deputy minister Vassilios Demetriades tells Lloyd’s List of his fear that the crew change crisis will drag on indefinitely unless the international community goes beyond nice statements and comes up with a practical plan to vaccinate seafarers
Petros Panagiotidis-led Castor said the loan of $15.3m is with a European financial institution
The Petros Panagiotidis-led owner said it had agreed a purchase price of $17.5m for the vessel, but only identified it as a capesize built in 2006 in Japan. However, the description matches the 15-year-old, 180,200 dwt Ocean Compass built by the Imabari Shipbuilding Saijo shipyard
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