Cyprus plans to abolish initial ship registration fees

Cyprus plans to abolish initial ship registration fees

Cyprus continues to address every facet of its maritime offering to lure more shipowners to the island. The country’s deputy minister for shipping Natasa Pilides has revealed plans to abolish initial ship registration fees to boost one of Europe’s fastest growing flags.

Members of parliament will vote on the issue later this month with a view to making the regulation official in time for Cyprus’s shipping week, which kicks off on October 6.

The Cypriot register today is the 11th largest in the world with 24.4m gt on its books.

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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