Emphasizing on the importance of the increase in tonnage of the Cyprus ship registry, the increased contribution of shipping to GDP, and the increase in revenue from the tonnage tax system, the Deputy Ministry of Shipping presented on Thursday its annual report for 2025.

Speaking at the Limassol Chamber of Commerce and Industry, Deputy Minister of Shipping, Marina Hadjimanolis, stressed that Cyprus is one of the largest shipping centers in the world and added that further strengthening of Cypriot shipping remains the primary goal.

Hadjimanolis noted that, since September 2023, the tonnage of the Cyprus ship registry increased by 23%, reaching its highest level since the establishment of the Deputy Ministry. She added that the contribution of ship management to GDP is steadily increasing, reaching up to of 17% in 2025. Moreover, a video presentation of the annual report mentioned an increase of 8.6% in revenues from the tonnage tax system in 2025 compared to 2024.

Cyprus’ relations with countries of the Arabian Gulf were also highlighted, with reference to the Memoranda of Understanding that were signed with Oman and Qatar. The first Cyprus-Egypt Joint Shipping Committee meeting was also noted.

The steady growth of the passenger maritime link between Cyprus and Greece during its fourth consecutive year, was mentioned, as well as the 30% increase in cruise ship arrivals in 2025, while the Deputy Ministry is working to implement a plan to enhance cruise tourism and to develop the appropriate framework for attracting recreational vessels to the Cyprus ship registry.

The Deputy Minister spoke of the goals for 2026, noting that the they remain focused on implementing the digitalization of the Shipping Deputy Ministry, which has significantly progressed already. She particularly mentioned important role of Cyprus at the Presidency of the Council of the EU. Among other activities, Cyprus will host the European Maritime Day 2026 in Limassol, while in 2025 the International Conference Maritime Cyprus 2025 reached a record of participation, with over 1,000 delegates from more than 35 countries.

“With vision and determination, we continue to build the future of a vital and strategic sector for Cyprus. Cyprus Shipping continues to strengthen and lead the way forward,” Hadjimanolis concluded, noting the importance of cooperation between public and private sector.