Cyprus Flag Administration updates the Directory of Services and contact persons 10 Oct. 2019

(http://www.MaritimeCyprus.com) The Cyprus Deputy Ministry of Shipping (Cyprus DMS), has issued an updated version of their Directory of Services, and contact persons. This can be downloaded at the bottom of this article. Cyprus is an international maritime centre, boasting strength, breadth and experience, attracting quality tonnage and increasing numbers of first-rate shipping companies from around…

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Due diligence for ship finance transactions in Cyprus

(http://www.MaritimeCyprus.com) The Shipping Industry is currently undergoing one of its largest economic and financial crises of recent memory due to the turmoil brought on by the credit crunch. It is under these circumstances that prudent and careful financial and investment decisions need to be made in order to not only survive the turbulence, but to thrive…

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Movers and Shakers: CMMI appoints Mr Zacharias Siokouros on the board of Directors, as it’s first CEO

(http://www.MaritimeCyprus.com) We are pleased to announce that Mr. Zacharias Siokouros was appointed as the first Chief Executive Officer of the newly established CMMI – Cyprus Marine & Maritime Institute. As from December 23rd 2019, Mr. Siokouros will be steering CMMI, an international, scientific and business Centre of Excellence for Marine and Maritime Research, Innovation and Technological Development that will be driven by the…

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EU extends Cyprus’ tonnage tax system

(http://www.MaritimeCyprus.com) Cyprus is an international maritime center, boasting strength, breadth and experience, attracting quality tonnage and increasing numbers of first-rate shipping companies from around the world. The EU Commission, has approved the prolongation of Cyprus’ tonnage tax scheme, which applies to ship ownership, ship management and ship chartering activities. Cyprus was the first ever open…

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Cyprus – Ship Management Survey for the first half of 2019

The Central Bank of Cyprus has published the results of the Ship Management Survey for the first half of 2019. The main developments concerning the transactions of resident ship management companies, are summarized as follows: 1. SHIP MANAGEMENT REVENUES FROM NONRESIDENTS Cyprus’s ship management revenues declined slightly by 0,95% during the first half of 2019…

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Cyprus Flag Administration new Fees and Dues for Ocean Going Commercial Ships (2019)

(http://www.MaritimeCyprus.com) The Cyprus Flag Administration has issued a new circular, which contain the new fees and charges payable for ocean-going commercial ships registered in Cyprus applicable as of 27 September 2019. The regulations define “ocean-going commercial Cyprus ships” as Cyprus ships which carry out their usual activity outside Cyprus’s territorial sea for commercial purposes. As…

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