Marine, Shipping And Yachting

In the shipping sphere, Cyprus has managed to rank itself at the top of the maritime centres of the world, developing an attractive and multifaceted shipping centre.

Cyprus’ modern and international shipping industry has allowed the island to contribute significantly to the formation of global shipping policies and to maintain a strong voice in maritime related decisions introduced by international organizations such as the IMO, the ILO and the European Union.

More than 20% of the world’s shipping industry is managed by shipping companies based in Cyprus, with over 200 of them conducting business from the prestigious port town of Limassol at the heart of the Cyprus shipping trade. The primary types of shipping activities registered in Cyprus are:

• Ship owning
• Bareboat chartering
• Shipmanagement headquarters auxiliary
• Service companies and facilities

The Cyprus flag holds a powerful voice as a top-quality sovereign flag which observes all safety and security standards deriving from the Paris and Tokyo MoUs and is in the “White List” of both MoUs.

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