Cyprus’s ship registry has expanded by 23% since September 2023, reaching its peak since the Deputy Ministry’s creation, while ship management now accounts for 17% of GDP in 2025.

Cyprus has deepened maritime cooperation in the Arabian Gulf, signing Memoranda of Understanding with Oman and Qatar, and hosting the first Cyprus-Egypt Joint Shipping Committee meeting.

Looking ahead to 2026, the ministry plans to continue digitalizing its operations, maximize Cyprus’s role during the EU Presidency, and host the European Maritime Day 2026 in Limassol, following the International Conference Maritime Cyprus 2025 that drew over 1,000 delegates from more than 35 countries.

Cyprus is now regarded as a major global maritime power with an internationally recognized ship registry and one of the world’s largest shipping centers, according to the Deputy Minister of Shipping, Marina Hadjimanolis.

Tonnage tax revenues rose by 8.6% in 2025 compared with 2024, as shown in the ministry’s annual report video presentation.

There has been a steady fourth year of growth in passenger links with Greece, including a 30% increase in cruise ship arrivals in 2025, with plans to bolster cruise tourism and attract recreational vessels to the Cyprus registry.

Hadjimanolis stressed that Cyprus’s shipping progress hinges on strong public-private cooperation, especially with the Cyprus Union of Shipowners and the Cyprus Shipping Chamber, to maintain Cyprus as a leading shipping center.