“When it comes to global shipping, Cyprus is bigger than it looks,” Stork told the Cyprus Mail. “It has built a reputation as one of the world’s top ship management hubs, home to more than 1,000 vessels and a growing number of international maritime companies.” Stork explained that beyond Cyprus’ traditional strength in ship management, the island is also increasingly becoming a base for technology and innovation in the sector. “For companies in maritime tech, bunker trading, and chartering, Cyprus offers something unique,” Stork said. “It combines a strategic location, a strong shipping community, and a business-friendly environment with an exceptional quality of life,” he added. He pointed out that “this mix is drawing in firms looking to operate globally while enjoying the advantages of being based in Cyprus”.

Stork mentioned the island has always been a natural hub for shipping, positioned at the crossroads of key maritime routes. “But geography alone isn’t enough to explain why so many international firms are choosing Cyprus as their base,” he said. “The real draw is the combination of a well-established maritime ecosystem, a supportive regulatory environment, and access to talent,” he added.

The XMAR CEO also stated that “the government has made a point of encouraging shipping and tech investment, with policies designed to attract international businesses”. He explained that the tonnage tax system, stable regulatory framework, and access to EU markets give companies confidence.

At the same time, the Cyprus Shipping Deputy Ministry actively engages with the industry to ensure the sector remains competitive. “Beyond business, Cyprus offers something that’s hard to quantify but easy to appreciate,” he continued. “It’s a place where work and life balance naturally. With a high standard of living, good international schools, and a climate that makes other European business hubs look dull by comparison, it’s no surprise that more professionals are relocating here.”

James Peacock, who leads product development at XMAR, also praised Cyprus’ burgeoning status as a tech-minded maritime centre. He explained that as shipping continues to digitise, Cyprus is seeing an increase in companies working on AI, data-driven decision-making, and digital platforms for ship operators. The industry’s shift towards efficiency and transparency is creating opportunities for companies that can solve long-standing inefficiencies. He also mentioned that “XMAR is one example of a company that saw the potential in Cyprus early”.

The platform was built to simplify bunker procurement, cutting through the complexity of fuel buying with real-time pricing, automated contract management, and flexible financing options. “Being based in Cyprus allows XMAR to stay close to the industry while building technology that serves a global market,” Peacock said. “We needed a base that was connected to shipping but also forward-looking,”, he added. “Cyprus gives us that balance,” Peacock continued. “The shipping community here is strong, and there’s a growing appetite for digital solutions. It’s a great place to build for the future.”

Stork also noted that with more than 200 shipping companies operating on the island and the sector contributing over seven percent of GDP, Cyprus is already a major player in European shipping. However, he pointed out that the momentum is shifting towards a broader role—one that includes sustainability, digital transformation, and alternative fuels.

Notably, green shipping initiatives, regulatory changes, and the push for more efficient operations are creating new challenges for ship operators. “Companies in Cyprus are well-placed to meet those challenges, whether through better fuel procurement, smarter voyage planning, or new financing solutions for shipowners,” Stork said. “For shipping professionals and businesses looking for a place to grow, Cyprus offers the rare combination of industry depth, business stability, and quality of life,” he added. “As the sector evolves, the island is proving to be more than just a ship management hub. It’s becoming a centre for the next generation of maritime solutions,” the XMAR CEO concluded.

Source: Cyprus Mail