Bitcoin 
Ethereum 
Tether 
BNB 
Solana 
USDC 
XRP 
Dogecoin 
Lido Staked Ether 
TRON 
Cardano 
Toncoin 
Shiba Inu 
Wrapped stETH 
Wrapped Bitcoin 
Avalanche 
WETH 
Chainlink 
Bitcoin Cash 
Sui 
LEO Token 
USDS 
Polkadot 
Litecoin 
NEAR Protocol 
Aptos 
Wrapped eETH 
Uniswap 
Pepe 
Internet Computer 
Bittensor 
Dai 
Artificial Superintelligence Alliance 
Monero 
Ethena USDe 
Stellar 
Kaspa 
WhiteBIT Coin 
Ethereum Classic 
First Digital USD 
POL (ex-MATIC) 
Stacks 
OKB 
dogwifhat 
Aave 
Filecoin 
Cronos 
Arbitrum 
Mantle 
Immutable 
Optimism 
Render 
Hedera 
Celestia 
Injective 
Cosmos Hub 
Fantom 
VeChain 
Bitget Token 
THORChain 
Binance-Peg WETH 
Sei 
Bonk 
The Graph 
Rocket Pool ETH 
Popcat 
Jupiter 
Pyth Network 
FLOKI 
Mantle Staked Ether 
MANTRA 
Gate 
Theta Network 
KuCoin 
Solv Protocol SolvBTC 
Worldcoin 
Helium 
Ethena 
Maker 
Algorand 
Bitcoin SV 
Coinbase Wrapped BTC 
Renzo Restaked ETH 
Marinade Staked SOL 
Ondo 
Arweave 
Fasttoken 
Lido DAO 
Raydium 
JasmyCoin 
Beam 
Polygon 
Brett 
BitTorrent 
Bridged USDC (Polygon PoS Bridge) 
Flow 
Aerodrome Finance 
USDD 
cat in a dogs world 
Core 
Revenue from the shipmanagement sector in Cyprus showed a small increase in the first six months of 2021, reflecting the recovery in global shipping after the disruption caused by the COVID pandemic.
According to the Ship Management Survey for January – June 2021, by the Central Bank of Cyprus (CBC), revenue from ship management amounted to €447 million or 4.1% of Cyprus GDP (in turnover terms) compared with €430 million in July – December 2020.
The CBC said the increase marked “a gradual recovery from the COVID-19 pandemic and the associated decline in economic activity observed during 2020”.
In terms of country of origin, Germany remains Cyprus’ biggest market with a share of 45% of total revenue (compared with 42% in Q2 2020), followed by Greece, whose share rose to 13% from 12% in Q2 2020.
On the other hand, the share of Singapore, Malta and Marshal Islands’ marked a minor reduction to 7%, 3% and 3% compared with 9%, 7% and 4% in Q2 2020, respectively.
The Cyprus shipmanagement sector remains broadly international.
The CBC added that 59% of revenue came from ships under foreign registries, while 41% of the total revenue came from the management of Cypriot flag vessels.
Of the €447 million revenue, full ship management services declined slightly to 47%; crew ship management rose to 49% of total revenue while technical management remained steady at 3%.
These shares are close to the levels observed in Q2 2019.
Shipmanagement expenditure rose to €425 million in H1 2021 compared with €416 million in H2 2020, marking an increase of 2.2% compared with H2 2020 and broadly stable (0.5%) compared with H1 2020.
Some 60% of total spending went on crew payments, 44% to Non-EU seafarers and 16% to EU nationals.
Shipmanagement expenditure (spare parts, lubricants, and dry-docking) accounted for 27% of spending and 13% concerned administrative expenses.
Cyprus is considered as the EU’s largest ship management centre and among the top three globally.
Tags
- Maritime & Shipping