Cyprus Port Assessment
Cyprus’ strategic location makes it invaluable as a trade and
logistics hub. The upgrading of all its key infrastructural
facilities such as ports, airports, roads and telecommunications
has given the island the impetus it needs to take the sector a step
further.
Cyprus is an island nation heavily dependent on international trade
and its advanced transport sector has played a significant role in
its economic development. The country’s flourishing shipping
industry, expanding ports and airports as well as its cargo
handling facilities present businesses with efficient sea and air
logistics solutions.
The island has a fully upgraded port system, including the
multipurpose ports of Limassol with an annual capacity of 600,000
twenty-foot equivalent units (TEU), Larnaca with an annual capacity
of 250,000 TEUs, the industrial port of Vassilikos and the
specialised oil terminals of Larnaca, Dhekelia and Moni. These are
all owned and managed by the Cyprus Ports Authority, which handled
7.1 million metric tonnes of cargo in 2011. Some 100 international
shipping lines include Cyprus in their regular schedules, and in
2011 approximately 4,250 ships called at Cypriot ports.
The government has invested heavily in the transport infrastructure
and is funding an on-going €80 million project to develop Limassol
port. This involves deepening the container terminal basin and the
entrance channel, the construction of a new passenger terminal and
a luxury marina project. The extension of the west basin quay is
expected to be completed in 2014. Limassol port is the main port of
Cyprus, providing services to ships, loading and unloading of cargo
and passenger traffic. The strategic position of Limassol port,
Cyprus’ EU membership and the deregulation of port services lend
very optimistic prospects to the future of the port and to the
cargo and passenger traffic that pass through it.
The second largest port of Larnaca has also undergone significant
improvements over recent years. The further development of the port
has been an important priority for the Cyprus Ports Authority,
while the Government has been promoting the development of Larnaca
marina. After two years of negotiations the government has signed a
€700 million agreement with a private consortium to develop both
the Larnaca port and marina. Following various studies, Larnaca
will be converted into the main port for cruise lines and passenger
traffic, with certain trade activities covering local cargoes and
needs. Today it is a multipurpose port handling various types of
cargo including unpacked (animal fodder, grain, gypsum),
conventional (lumber, iron, fertilizers, automobiles) and oil
products.
Development plans for Vassilikos include the construction of a
major oil and gas import and distribution terminal, which is set to
be completed in 2014. The Vassilikos area is also the main port for
industrial and dirty bulk cargo, catering to various types of
imports and exports, with the primary export cargo being cement
with 350,000 tonnes.
For information on Cyprus Port contact details, please see the following link:
