Cyprus as a Maritime Hub

The rapid development of the merchant shipping in Cyprus over the last decades has resulted in the evolution of Cyprus into a modern, efficient and integrated shipping center, now being one of the three largest ship management centers in the world and the largest in Europe.

It is very important to note that Cyprus has the 3rd largest fleet of commercial ships in Europe and the 11th largest in the world. More than 200 companies are based in Cyprus with their main business being shipowners, ship management and other maritime services. More than 20% of the world’s third-party fleet management is managed by Cyprus-based companies, while over 4,500 people are employed ashore and around 55,000 seafarers work for Cyprus-based shipping companies.

Of key importance is the fact that the Cypriot flag is a top-quality sovereign flag which duly adheres to all safety and security standards deriving from the Paris and Tokyo MoUs and is in the “White List” of both MoUs.

The continued growth of the maritime industry in Cyprus, resulted in the creation of new job openings which must be filled by highly trained and qualified personnel, both academically and professionally, so that it can cope with the peculiar labor requirements of the Maritime sector.