Transcript Cyprus Shipping New Challenges and Prospects by

Cyprus Shipping: New Challenges and Prospects
Mr Alecos Michaelides
Permanent Secretary
Ministry of Transport,
Communications and Works
Cyprus Shipping: New Challenges and Prospects
Contribution of Shipping to the economy of Cyprus:
 7% of GDP (direct and indirect contribution).
 4,500 employed ashore in the shipping industry.
Cyprus Shipping: New Challenges and Prospects
Cyprus Registry of Ships:
 10th in the world.
 3rd in the European Union.
 1,000 ocean going ships.
 Approximately 23 million gross tonnage.
Cyprus:
 A leading international shipping centre.
Cyprus Shipping: New Challenges and Prospects
30
3,000
25
2,500
20
2,000
15
1,500
10
1,000
Gross Tonnage
Number of Vessels
5
0
500
0
1963
1968
1973
1978
1983
1988
1993
1998
2003
2008
2013
Number of Vessels
Gross Tonnage
(Million tons)
Development of Cyprus Fleet, 1963-2015
Cyprus Shipping: New Challenges and Prospects
Fiscal and Economic incentives:
 Competitive ship registration costs and fees.
 Competitive annual tonnage taxes.
 56 double tax avoidance treaties.
 23 bilateral agreements on merchant shipping.
 Comprehensive Tonnage Tax System.
Cyprus Shipping: New Challenges and Prospects
Cyprus Tonnage Tax System:
 Approved by the European Commission as compatible with
the Guidelines on State Aid to Maritime Transport.
 Stable fiscal environment for shipping entrepreneurs.
 Applicable to:
 Owners of Cyprus ships,
 Owners of foreign ships,
 Charterers,
 Ship managers.
Cyprus Shipping: New Challenges and Prospects
Number of companies in the Cyprus Tonnage Tax System
50
45
40
Number of companies
35
30
25
20
15
10
5
0
2010
2011
Ship managers
2012
Charterers
2013
2014
Owners of foreign ships
2015
Year
Cyprus Shipping: New Challenges and Prospects
Active participation in the shipping fora:
 International Maritime Organization.
 International Labour Organisation.
 European Council.
 European Commission.
Cyprus Shipping: New Challenges and Prospects
Cyprus flag:
 Quality flag.
 Effective implementation of all internationally applicable
standards to shipping.
“White List” of Paris and Tokyo MoUs on Port State Control.
Cyprus Shipping: New Challenges and Prospects
New Cyprus Shipping Strategy:
 New branding and promotional campaigns.
 Re-organisation of Maritime Administration in order to:
 improve quality of services,
 improve responsiveness.
 Simplified procedures.
 e-services:
 registration of seafarers,
 recognition of Certificates of Competency.
Cyprus Shipping: New Challenges and Prospects
Cyprus:
“the ideal choice for every successful shipping entrepreneur”.
Thank you for your attention.