Mediterranean Sea drowning in plastic waste

More than 200,000 tonnes of plastic waste is leaking into the Mediterranean Sea every year destroying the marine environment, a report by the International Union for Conservation of Nature (IUCN) shows. According

Protecting mortgages for Cyprus-flag ships

By Zacharias Kapsis According to the Merchant Shipping Laws of 1963, the main statutes for all matters relating to the registration of ships and related transactions in the Register of Cyprus Ships,

Cyprus revises VAT for yacht leasing scheme

By Zacharias Kapsis The Tax Department has introduced new procedures regarding the leasing from December 23, 2019, onwards of recreational vessel owning companies registered on the VAT Registry. The Interpretative Circular 240

COVID19: Cyprus marinas in choppy seas

The pandemic has taken its toll on the maritime sector as foreign yacht owners are not able to dock their boats at Cyprus marinas due to restrictions on arrivals from high-risk COVID

VTTV €150 mln projects boost for shipping

VTT Vasiliko, the Dutch-controlled international energy trader playing a key role in developing the Vasiliko energy hub since 2014, has two more storage projects in the pipeline worth about €150 mln. The

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