The creation of the Deputy Shipping Ministry marks a very important step towards the efforts of the country to strengthen its presence as a major maritime centre.
Natasa Pilides is the first Deputy Minister of Shipping. The shipping sector represents currently 7% of the GDP of Cyprus and the government seeks to increase the contribution of this sector to the Cypriot economy. Cyprus has the 3rd largest merchant fleet in the European Union and the 11th largest in the world. Around 3,500 vessels are managed from Cyprus.
The new Sub-Ministry commenced its activities today the 1st of March 2018 and its head office is in Limassol where the majority of shipping companies are based.