Cyprus ship management sector reports record revenues for second half of 2025

The Central Bank of Cyprus reported that ship management revenues reached €1 billion in the second half of 2025, marking a 2.3% increase over the first half of the year. This contribution represents 5.4% of Cyprus' GDP, with total annual revenues for 2025 exceeding €1.9 billion, the highest level since 2020. Operational expenses for the same period rose marginally by 0.2% to €897 million. Germany remains the sector's primary trading partner with a 28% revenue share, followed by Switzerland at 15% and Greece at 12%. Singapore and the United States accounted for 5% and 4% respectively, with the U.S. returning to the list of key partners. The survey noted that 30% of companies generated between €2 million and €15 million, while another 30% exceeded €15 million in revenue. Full management services accounted for 51.2% of total revenues, surpassing crew management services. These results significantly outperform the 2019-2021 period, which was negatively impacted by pandemic disruptions and high operational costs.