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Cyprus implementing new shipping strategy

Cyprus is implementing a new shipping strategy. The minister of transport, communications and works Marios Demetriades said yesterday more incentives would be rolled out to develop the island as a shipping cluster.

“As part of our efforts to enhance Cyprus’ competitiveness, we have procured a study for the shipping industry in cooperation with the private sector,” he told the 5th Mare Forum Cyprus 2016.

The study proposes measures that would strengthen the Cyprus merchant fleet and shipping cluster. The outcome and recommendations of the study have been taken into consideration and the implementation of those measures has already begun.

“Additional measures that are already taking place include the recent engagement of a private firm for the promotion of shipping, the strengthening of regional offices and incentives for business development,” the minister added.

Demetriades stressed that the discovery of hydrocarbons places new challenges to the shipping industry of Cyprus.

“We are confident that Cyprus has the potential to develop into an important energy center in the Mediterranean offering services in the area. Such services include transportation ashore, operation of specialised ships and equipment and the supply of specialised support services” he said.

Many Greek owners are eyeing Cyprus a place to relocate their businesses.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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