(www.MaritimeCyprus.com) The Ship Management Survey is conducted biannually by the Central Bank of Cyprus's Balance of Payments Section, which is part of the Statistics Department. The survey was launched in March 2009 and covers residents of Cyprus who provide ship management services to ship owning companies registered both in Cyprus and abroad.
The survey collects data from a representative sample on the financial transactions (revenues and expenses) carried out between resident ship management companies and non-residents of Cyprus.
Key points:
- Ship management revenues in 2025 H1 reached €978 million, recording a 6.7% increase compared with 2024 H2.
- Germany remained the main trading partner with a share of 30% in the industry’s revenues.
- Full management services remain the main source of revenues.
- Ship management expenses settled at €896 million, marking an increase of 8.3% relative to 2024 H2.
Cyprus’s ship management revenues increased to €978 million during the first half of 2025 (2025H1), which corresponds to 5,5% of Cyprus’s semi-annual GDP as turnover. The level of revenues increased above the €950 million threshold, which is considerably higher than the average level of revenues observed during the period 2019-2021.
The industry’s revenues are decomposed by country of payment:
Germany’s and Greece’s contributions (the main trading partners for the industry) decreased slightly to 30% and 13%, respectively in 2025H1. In contrast, Switzerland’s (12%) and Singapore’s (4%) contribution remained relatively stable during the same period.
The ship management companies are classified into non-overlapping revenue segments, as depicted on the horizontal axis. During 2025 H1, 31% of the companies managed to generate revenues in the range of €2 - €20 million each. The same share of companies managed to generate revenues more than €20 million each.
Main types of ship management operations and their contributions:
Since 2024H2, revenue composition has shifted slightly, with a decrease in technical management services and a corresponding increase in crew management services. In particular, in 2025 H1 the share of full management services increased slightly to 49.8% of the total amount of ship management revenues while crew management services increased from 43.5% in 2024 H2 to 48.4% of the total revenues in 2025 H1. The share of technical management services to total ship management revenues shrunk to 1.8% in 2025 H1 from 7.0% in 2024 H2.
Cyprus continues to prove its strength as a trusted hub for global ship management.
Cyprus is a leading hub for global ship management, and its reputation for reliability and expertise continues to grow. The island nation provides a stable and trusted environment for shipping companies worldwide.
For more details, click below to download the full report:
Source: Cyprus Central Bank
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