Ship Owning
The island's development into an international maritime centre began in 1963 when the Government offered the first incentives aimed at the
encouragement of ship ownership and the registration of vessels under the Cyprus flag. In the early 80' s the Cypriot merchant fleet ranked
32nd on the list of maritime nations. Today it ranks 6th with over 2.600 ships exceeding 26 million gross tonnage. This achievement is due
to the cost competitiveness of the Cypriot Ship Registry, the island's well-developed maritime infrastructure as well as the high standard
of services offered to international shipping.
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