29.06.2023_Cyprus Union of Shipowners. Local News.

CUS NEWS REPORT FOR WEEK 21 OF 2023

20^th May 2023 – 26^th May 2023

• LOCAL NEWS
• CUS’ Vice President, Mr. Polys Hajioannou, attended the Annual General Meeting of the Cyprus Marine Club

The Annual General Meeting of the Cyprus Maritime Club (CMC) took place on Friday, 26 May 2023 at the Epsilon Resto Bar in Limassol Marina. CMC is a social non-profit organisation aiming to establish stronger relations among its members. The event was attended by distinguished representatives from the public and private maritime sectors.

After a brief preview from CMC representatives on the objectives and activities of the club for the past year, the Vice President of our Union, Mr. Polys V. Hajioannou, commented on various important issues related to the shipping sector, focusing on the Turkish embargo and the number of ships registered under the Cypriot Flag.

In particular, Mr. Hajioannou, speaking on behalf of the President and the Executive Committee of the CUS, expressed the views of the Union regarding the need for everyone’s support on matters concerning the shipping industry and especially its registry. Cyprus, as a very vibrant maritime community, is a shipping nation because of its shipping registry and the Cyprus flag. If Cyprus has a small fleet, it cannot be properly represented in Maritime fora and organisations. Thus, all shipping companies located on the island, some of which are managing hundreds of ships, should support with actions, not words the Cyprus shipping Registry, by bringing more ships under the Cyprus flag. This way, Cyprus will have a strong voice in Europe, and will be heard on upcoming crucial changes, such as fuel levies and other fast moving changes on fuels/engines/environmental matters etc.

Furthermore, Mr. Hajioannou referred to the Turkish embargo that it can no longer be used as an excuse, but as the sole reason why a Cyprus-based company must register a decent part of its fleet under the Cyprus flag. By strengthening the Cyprus fleet, one day Turkey will have to consider opening its ports to ships under the Cyprus flag. Turkey, after all,  accounts only for 1% of world trade. Shipping companies located in Cyprus can afford some of their managed ships to lose that 1% of world trade and still make good profits with their fleet.

Finally, Mr. Hajioannou mentioned that, unfortunately, Cyprus Registry has lost ships due to the Russian sanctions, something that makes the strong action by all companies enjoying the benefits of the island, more crucial than ever. Cyprus correctly supported European sanctions against Russia as Cyprus is an invaded nation itself since almost 50 years ago and still has 40% of its territory occupied.