Excerpt of Article -- The Maritime Industry

Today more than 2,700 vessels totalling over 26 million tons fly the Cyprus flag, placing the island in the sixth highest position worldwide. More than 100 ship management and other marine related offshore companies conduct their international activities from the island and most of the largest ship management companies in the world have established fully fledged offices on the island.

The first year of the 21st Century will determine to a large extent the course of Cyprus Shipping.

The year 2000 will be a year of decisive measures and actions for the upgrading of the merchant shipping of Cyprus. Cyprus is heading its way to the European Union and so must the maritime industry.

New Laws and policies are under preparation for the continuous improvement and upgrading of the Cyprus fleet as well as the services offered. By Averof Neophytou, Minister of Communications and Works