Overview
The ROC’s shipping registry is the third-largest flag in Europe and the island is a global leader in ship management. Despite the Turkish embargo on ROC flagged and managed ships calling on Turkish ports, Cyprus shipping offers new opportunities for U.S. economic and commercial engagement.
Leading Sub-Sectors and Opportunities
Products and Services for Shipping:
As a hub for ship management, ship ownership, and vessel chartering services, Cyprus offers potential for U.S. companies seeking to export shipping-related goods and services. Examples include marine electronics, environmentally friendly marine engines, ballast water treatment solutions, green technologies, insurance services, crewing services, and marine support services. Limassol, the island’s second largest city, has established itself as a leading ship management center. U.S. suppliers of any product or service catering to this industry should consider Limassol as a market entry point. The two professional associations that represent most locally-based shipping companies are the Cyprus Shipping Chamber and the Cyprus Union of Shipowners. The Propeller Club of the United States is preparing to launch Cyprus chapter.