The Central Bank of Cyprus (CBC) on Tuesday reported that ship management revenues exceeded €1 billion in the second half of 2025, marking a 2.3 per cent increase compared with the first half of 2025, according to a survey conducted by the bank’s statistics department.

The findings show that the level of revenues remained significantly higher than the average recorded during the 2019 to 2021 period, which had been shaped by pandemic-related disruptions, temporary state support measures and elevated crew management costs.

At the same time, ship management expenses reached €897 million, registering a marginal increase of 0.2 per cent compared with the first half of 2025.

The survey indicated that Germany remained the main trading partner, accounting for a 28 per cent share of sector revenues.

It also found that Switzerland’s share rose to 15 per cent, while Greece’s share declined slightly to 12 per cent.

According to the CBC, Singapore’s contribution increased moderately to 5 per cent, while the United States reappeared among key trading partners with a 4 per cent share, having been absent in the first half of 2025.

The study further showed that during the second half of 2025, 30 per cent of companies generated revenues between €2m and €15m each, reflecting a solid mid-tier performance across the sector.

In addition, another 30 per cent of companies recorded revenues exceeding €15m each, underlining the presence of larger, high-performing operators within the industry.

Moreover, the survey confirmed that full management services remained the primary source of revenue for ship management companies.

More specifically, the CBC reported that in the second half of 2025, the share of full management services rose slightly to 51.2 per cent of total ship management revenues.

At the same time, the share of crew management services declined marginally from 48.4 per cent in the first half of 2025 to 47.0 per cent in the second half of 2025.

Meanwhile, the share of technical management services remained stable at 1.8 per cent of total ship management revenues, indicating limited change in this segment.

The figures highlight the resilience and steady growth of Cyprus’ ship management sector, supported by strong international partnerships and a stable service mix.