Shipping & Transport, Elias Neocleous & Co LLC updates

Cyprus

Contributed by Elias Neocleous & Co LLC
International Safety Management Code – instructions for recognised organisations
  • Cyprus
  • 06 March 2019

The Cyprus Flag Administration recently imposed additional requirements on the development, implementation and certification of safety management systems over and above those which have been set out in the International Safety Management Code since 1998. The consolidated edition of the additional requirements replaces a previous version published in 2006 and recognised organisations are required to implement its terms and conditions immediately.

Safety zone in Cyprus Continental Shelf and exclusive economic zone – Stena IceMax
  • Cyprus
  • 06 February 2019

The recent Ministerial Order on Safety Zones was published with the purpose of ensuring the safety of the Stena IceMax drillship and the safety of navigation during the period that it will be used to drill in the Cyprus Continental Shelf and exclusive economic zone. The order establishes a safety zone at a distance of 500 metres from the drillship. Unless a vessel has obtained the requisite licence from the Deputy Ministry of Shipping, it cannot (bar a few exceptions) enter, navigate or remain within the safety zone.

Amendments to the Code of the Maritime Labour Convention enter into force
  • Cyprus
  • 30 January 2019

The Deputy Ministry of Shipping (DMS) recently issued the 2016 Amendments to the Code of the Maritime Labour Convention. The amendments affect maritime labour certificates and declarations of maritime labour compliance. In this regard, the DMS has announced that existing certificates and declarations will remain valid until their expiry date.

Tonnage tax – maintenance of prescribed levels of EU-flagged vessels
  • Cyprus
  • 23 January 2019

The Merchant Shipping (Fees and Taxing Provisions) Law 2010 requires that, in order to qualify for the tonnage tax scheme, EU-flagged ships must account for at least a specified minimum percentage of the taxpayer's fleet. The Deputy Ministry of Shipping recently announced the outcome of its review of companies that entered the tonnage tax system between 1 January 2015 and 1 January 2016.

Tonnage tax: countries whose ships are subject to surcharge
  • Cyprus
  • 19 December 2018

The Merchant Shipping (Fees and Taxing Provisions) Law 2010 imposes a surcharge on the tonnage tax payable on qualifying vessels registered in countries which appear on the 'grey list' or 'black list' of the Paris Memorandum of Understanding. On the basis of the 2017 annual report of the Paris Memorandum of Understanding, the Deputy Ministry of Shipping has determined a list of flags that are included in the relevant grey or black list for the purposes of calculating tonnage tax for 2018.


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