According to the Cypriot Transport Minister, Marios Demetriades, the Cyprus government has the shipping industry as a top priority. For that reason, the Cyprus government plan to create a self-standing Deputy Ministry of Shipping as from March 2018, the Minister noted.
As Mr. Demetriades said, Cyprus incentivizes the shipping industry with fiscal and economic offers, such as registration costs and annual tonnage taxes.
Cyprus is ranked amongst the leading ship registries globally, something that makes the maintenance of a high quality fleet, the effective implementation of the internationally applicable standards for the safety of life at sea very crucial, the Cypriot Minister mentioned.
Furthermore, he added that Cyprus must adapt to the new developments that are occurring, especially given the area’s geopolitical alternations. In order for that to happen, Marios Demetriades suggested Cyprus to take advantage of the the discovery of hydrocarbons places near Cyprus, something that can make Cyprus an important Energy Cenre in the Mediterranean.
Continuing, he highlighted that the country must invest in new specialised ships and equipment , as well as in specialised supporting services, to successfully achieve Offshore exploration and production of gas and oil.
Additionally, the Cypriot Transport Minister, considered the construction of an an LNG bunkering station. A project that can potentially increase the transhipment and the number of vessels approaching Cyprus ports and terminals.
Finally, he noted that the government of Cyprus aims to develop the country’s role in world shipping and provide the necessary means to enhance Cyprus’s shipping sector.