Reports in the Greek media say Safety Management Overseas, commercial manager of its affiliate company Safe Bulkers’ fleet, is to move its office from Athens to Limassol, Cyprus.
The move makes sense for Safe Bulkers: its entire fleet is registered in Cyprus and Polys Hajioannou, the company’s chairman and CEO, is of Cypriot origin and was a founding member of the Union of Cyprus Shipowners.
Limassol (pictured) is estimated to be the largest third-party ship management centre in the EU, with 130 companies based in the city.
In early July, the director general of the Cyprus Shipping Chamber Thomas Kazakos told press that Greek companies had been enquiring with maritime service providers about tax and administration issues in Cyprus.
