Cyprus business round-up: Methanol vessels named and valuers warn on automated estimates

Nicosia, Cyprus. Cyprus business developments during the week starting August 3 included the naming of two dual-fuel methanol vessels by Limassol-based Lemissoler Navigation and a warning from property valuers about automated assessments.

Travel planning from Cyprus was also highlighted as heavily dependent on air travel, with limited opportunities for spontaneous cross-border trips by rail.

Travel planning constraints

Organising a holiday can involve comparing flights, hotels and restaurants across multiple online platforms, while group discussions may not lead to a booking decision.

For travellers departing from Cyprus, nearly every trip abroad begins with a flight and airport travel, including consideration of early-morning departures.

Lemissoler names methanol-fuelled vessels

Limassol-based Lemissoler Navigation has named MV Lem Azalea and MV Lem Plumeria, the first two vessels in its four-ship dual-fuel methanol newbuilding programme.

The naming ceremony was held at the end of July. The two 65,000-dwt carriers were built by CSSC Huangpu Wenchong Shipbuilding in cooperation with China Shipbuilding Trading Co. Both vessels will operate under charter to Cargill.

The vessels were developed from Lemissoler’s operational experience and its aim to create efficient and competitive dry bulk carriers able to meet current requirements and the evolving demands of the maritime energy transition.

Shanghai Merchant Ship Design and Research Institute translated Lemissoler’s operational requirements and continued owner input into vessel design and detailed engineering. The American Bureau of Shipping provided classification expertise and technical guidance.

Valuers warn on online property estimates

A Cyprus Chamber of Commerce and Industry (Keve) member association representing property valuers said online property valuation tools and automated valuation systems should be regarded only as indicative estimates.

The association said such tools cannot replace property assessments conducted by qualified professionals.