09 May 2014 09:12

The recent discovery of hydrocarbons offshore Cyprus is an opportunity for the development of a whole new sector within the island's shipping Industry, President Anastasiades said in Hamburg yesterday.
"New and vibrant shipping and energy projects can be launched," Anastasiades told German ship owners at a luncheon in the port city.
"And relevant government policies will definitely include this new exciting prospect during development," he added.
Anastasiades also said that Cyprus has the capacity to develop into an important energy centre in the Eastern Mediterranean.
"In this respect, we would welcome involvement and technical expertise from German shipping and energy entrepreneurs either on their own or through joint ventures with Cyprus-based companies."
Out of a total of 50 members of the Cyprus Shipping Chamber, 21 German ship-management, ship-owning and chartering companies are based on the island.
"As Cypriots, we readily admit that German shipping entrepreneurs who set up offices in our country and some of whom are here today, facilitated the enhancement of the shipping technical know-how in Cyprus," Anastasiades said.
"And, as a result, they contributed substantially to the development of Cyprus as a fully-fledged, competitive and modern maritime centre competing on a global scale."
Official records show that 45 Germany companies currently own or operate 167 vessels under the Cyprus flag with a 1,945,588 gross tonnage.
This represents 9% of the Cyprus fleet in terms of gross tonnage.
Anastasiades said Cyprus' fully revised and upgraded Cyprus Shipping Taxation System is perhaps "the most important recent success for the island's shipping".
And, he added, the approval of the new Cyprus "Tonnage Tax System" by the European Commission in 2010 ensures the viability of the Cyprus Shipping Register and the islands' shipping Industry in the years ahead.
The luncheon was organised by the German Ship owners Association and the Cyprus Shipping Chamber.
Before that, the President who is due back to Cyprus today, met with Hamburg's President of the Senate, Mayor Olaf Scholz.


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