Cyprus Ship Registry Fleet Grows About 27 Per Cent Since September 2023, Deputy Minister Says

Nicosia, Cyprus. The fleet sailing under the Cypriot flag has grown by roughly 27 per cent since September 2023, Shipping Deputy Minister Marina Hadjimanolis said on Monday. She was presenting the ministry’s 2027 budget to the House finance committee.

Budget and priorities

Hadjimanolis outlined the ministry’s strategic goals and priorities for the coming year to the committee. The ministry described the budget as one that produces a surplus. It said the plan shows the government’s determination to strengthen the shipping sector, develop the wider maritime ecosystem and keep Cyprus competitive as an international shipping centre.

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Registry growth

According to the deputy minister, the steady rise of the Cyprus Ship Registry over the last three years shows that “Cyprus remains a reliable and competitive shipping destination”. She said the growth in the capacity of the fleet since September 2023 reflects the trust of the global shipping community in the country.

Since 2026 began, 119 new vessels have been entered in the register. Their combined gross tonnage is above 2.4 million tonnes.

Government aims

Hadjimanolis said the government wants a strong, high-quality ship registry. She said this should rest on a competitive maritime ecosystem and on a modern, efficient ministry able to meet the needs of both the public and the shipping industry.

She added that, with the international environment changing quickly, the government continues to work consistently and responsibly to create conditions for more investment, new opportunities and greater added value for the economy and society. She also stated that “Shipping is a strategic pillar of the Cypriot economy”, and said the government will keep working so that Cyprus stays a modern, reliable and competitive shipping hub.

Revenue

The ministry also reported that its revenue has risen by 17.5 per cent over the past three years. It said this shows the sector’s increasing contribution to the national economy.