Ship-management companies contribution to the Cyprus Economy further increases

The Chamber welcomes the results of the newest “Ship Management Report”, published by the Statistics Department of the Central Bank of Cyprus, for the second half of 2018, which covers the period 1 July – 31 December. The results indicate that industry revenues from Ship-management companies further increased during the second half of 2018, reaching €528 million, recording an increase of €22 million when compared with the first half of 2018, a percentage of 5% of Cyprus’s GDP. This percentage remained similar to the one recorded during the first half of 2018, since there was a simultaneous increase in the GDP of Cyprus.

The main exporting destinations for the services of the ship management industry include Germany, Switzerland, Singapore and Malta. These services concern primarily technical (mechanical) ship operations and crew management services.

These significant results prove once again the contribution of Cyprus Shipping, as it remains one of the most important “blood donors” of the Cyprus Economy with tangible prospects for further development. In addition, it is worth mentioning that, in a very few other maritime nations, the economic contribution of the local shipping industry reaches such high level.


Read the full report on the link below:

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< 2019 >
  • 30

    10:30 -13:00
    Four Seasons Hotel
    67/69 Amathountos Avenue Ag.Tychonas, Limassol, 4532


    The Chamber’s 30th Annual General Meeting will take place on 30 May 2019, at the Four Seasons Hotel.

    More information with regard to the organisational arrangements of the afore-mentioned event will be provided by the Secretariat in due course.

  • 31

    09:00 -13:00
    Mediterranean Hotel
    71 Amathus Avenue, 4533 Agios Tychonas, Limassol


    The Chamber is organising an e-Navigation Seminar titled “e-Now: An ocean supply chain” on Friday, 31 May 2019, 09:00-13:00 hours at the Mediterranean Hotel in Limassol.

    The aim of the Seminar is to receive an update on e-navigation developments from various sources and have a discussion with our Members on their questions and concerns on e-navigation.

    In this respect, the Chamber has invited top panelists from across the industry and secured the attendance of representatives from the International Maritime Organization (IMO), Cruise Lines International Association (CLIA) Europe, International Association of Marine Aids to Navigation and Lighthouse Authorities (IALA), Nautical Institute, Cyprus University of Technology (CUT) and others.