Entry into force of the 2016 Amendments to the Code of the Maritime Labour Convention of 2006

On 11 January 2019 the Cyprus Deputy Ministry of Shipping (DMS) issued a notification to registered owners, charterers, managers and representatives of ships flying the Cyprus flag, and other interested parties regarding the adoption, under the tacit acceptance procedure, of the 2016 Amendments to the Code of the Maritime Labour Convention of 2006. Following their […]

Tonnage tax: countries whose ships are subject to surcharge

In order to promote its objective of improving the quality of Cyprus shipping, the Merchant Shipping (Fees and Taxing Provisions) Law of 2010 imposes a surcharge on the tonnage tax payable on qualifying vessels registered in countries which appear on the ‘grey list’ or ‘black list’ of the Paris Memorandum of Understanding (MOU). Article 17(2) […]

Publication of the latest Central Bank of Cyprus ship management survey

Cyprus is one of the world’s most important locations for ship management, with around 60 ship management companies operating in its territory, several of which rank among the largest of their kind in the world. Cyprus-based ship management companies employ almost 40,000 seafarers including 5,000 EU nationals, and the total fleet managed from Cyprus is […]

Entry into force for Cyprus of the Ballast Water Management Convention

The Cyprus Deputy Ministry of Shipping (DMS) has announced that the International Convention for the Control and Management of Ships’ Ballast Water and Sediments (Ballast Water Management Convention) will enter into force for the Republic of Cyprus on 8 November 2018 pursuant to Article 18.3 of the Convention. A translation into English of the law […]