Nicosia, Cyprus. The Central Bank of Cyprus (CBC) said ship management revenues exceeded €1 billion in the second half of 2025, up 2.3% from the first half of the year. Ship management expenses rose marginally to €897 million, increasing 0.2% over the same period.
Survey findings and comparison to prior years
The CBC said the results were based on a survey conducted by its statistics department. It reported that revenues remained significantly higher than the average recorded during 2019 to 2021, a period shaped by pandemic-related disruptions, temporary state support measures and elevated crew management costs.
Trading partners and revenue shares
Germany remained the main trading partner, accounting for 28% of sector revenues, the survey found. Switzerland’s share rose to 15%, while Greece’s share declined slightly to 12%.
The CBC said Singapore’s contribution increased to 5%, while the United States reappeared among key trading partners with a 4% share after being absent in the first half of 2025.
Revenue distribution and main service lines
During the second half of 2025, 30% of companies generated revenues between €2 million and €15 million each, the study showed. Another 30% recorded revenues exceeding €15 million each.
The survey also confirmed that full management services remained the primary source of revenue for ship management companies, with their share rising slightly to 51.2% of total ship management revenues in the second half of 2025, according to the CBC.
Which trading partner’s share of ship management revenues changed the most in the second half of 2025?
