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Fears that increased port charges will damage competitiveness of the shipping industry.

The Cyprus Chamber of Commerce and Industry (CCCI) said on Friday that it feared increases in charges at Limassol port will erode the competitiveness of the shipping industry.

According to the CCCI the charges, valid from February 1, are "arbitrary and excessive".

"Management companies in the Limassol port have imposed increases of up to 200 per cent even on basic services," they complained.

"The CCCI calls on management companies in the port of Limassol to reflect on their responsibilities to the local economy and to put an end to unjustified and undesirable increases."

They also called on the state to exercise "adequate and effective control" over the increases imposed by management companies.

"Given that Cyprus is an island and the shipping industry is at the heart of our economy, it is imperative that all involved, the government, the CCCI and the management companies, act promptly and in a coordinated manner to ensure the competitiveness of the industry," the statement concluded.

Management company DP World, which published the new tariffs, did not wish to comment on Friday.

In November last year, DP World said it expected 93 cruise ships to arrive at the Limassol port by the end of the year, recording a 40 per cent increase compared to 2018.

Dubai's DP World was awarded a 25-year concession to exclusively operate the multi-purpose terminal in April 2016.

P&O Maritime, a DP World subsidiary was also awarded a 15-year concession to exclusively provide the full range of marine services in Limassol port.

DP World took over general commerce and passenger traffic from the government in early February 2017.

The post Fears that increased port charges will damage competitiveness of the shipping industry appeared first on Cyprus Mail .

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Author:Annette Chrysostomou
Publication:Cyprus Mail (Cyprus)
Geographic Code:4EXCY
Date:Feb 7, 2020
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