Nicosia, Cyprus. The Cyprus Shipping Association said the proposed revision of the European Union Emissions Trading System could provide Cyprus with opportunities to invest in modern port infrastructure and strengthen its maritime sector.
The association said it was following the developments closely and participating in European discussions on shipping’s green transition through FONASBA and ECASBA.
Investment and funding
The CSA said the European Commission’s proposals were moving in a positive direction by providing for a larger share of ETS revenues to be directed back to shipping.
It said the funding could support clean fuels, electric power supply for ships at berth, known as cold ironing, modern port infrastructure and other decarbonisation technologies.
The association added that the proposals retained support tools for countries with strong maritime sectors, creating further funding opportunities for the green transition.
Cyprus priorities
According to the CSA, the developments could support growth in Cyprus by strengthening ports, improving connectivity and increasing the competitiveness of the maritime economy.
The association said Cyprus could use institutional and European channels to present the needs and challenges linked to its island character in a timely and coordinated manner during the formation of the final European framework.
Competition concerns
The CSA said equal conditions of competition for European shipping should be maintained and warned against double burdens from parallel European and international measures.
It also called for a careful assessment of the potential extension of the ETS to smaller vessels, stating that the green transition should be effective, fair and sustainable for the sector.
“The green transition can make Cyprus an even stronger and more competitive shipping centre,” CSA president Reginos Tsanos said.
He said the ETS revision should be regarded as a strategic opportunity for investment in port infrastructure, clean technologies and the wider shipping ecosystem.
“With timely planning, co-operation among all the stakeholders involved and substantive use of European resources, Cyprus can further strengthen its position as a reliable and modern shipping centre in the Eastern Mediterranean,” Tsanos said.
