Independent journal on economy and transport policy
15:50 GMT+2
CENTRO INTERNAZIONALE STUDI CONTAINERS
ANNO XXXVIII - Numero FEBBRAIO 2020
LEGISLATION
CYPRUS SHIPPING CLUSTER NOT UNDULY AFFECTED BY BREXIT
Brexit will not unduly affect the Cypriot shipping cluster, says
the country's Shipping Minister, Natasa Pilides.
"On a broader level [due to Brexit] shipping is affected in
terms of corporate earnings and trade, but beyond that concern,
Cypriot shipping is not expected to be adversely affected,"
said Pilides. "
The aspects regarding shipping, she explained, are "under
control", while referring specifically to British vessels that
are part of the Cyprus tax system and are no longer considered part
of the EU, noted Pilides when opening the Capital Link Cyprus
Shipping Forum in Limassol, 25 February.
She explained the Ministry contacted all owners of such vessels
"to make sure that will be able to follow the rules in the
future".
"British shipping companies are also affected because they
are no longer considered European and therefore cannot fit into our
tax system unless they make the necessary changes to be considered
European," added the Minister.
Pilidou said she believes the changes that needed to be made
were not restrictive. "There are various options we have
explained to all affected companies and I believe they have taken
appropriate action," she said.
Regarding the more than 2,000 British seafarers working on
Cyprus-flagged vessels, "they are not affected because Cyprus
will continue to recognise these seafarers." However, she said,
new British seafarers, arrangements would need to be made with the
EU for Britain to be recognised as a third country in terms of
schools and certificates given to sailors. This is a formal process
which has already started and there is no need to worry about it,
declared the minister.
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