The banking crisis is not affecting the island’s shipping industry, Transport Minister Tasos Mitsopoulos said yesterday.

Mitsopoulos was responding to speculation to the contrary. “The Department [of Merchant Shipping] and the Registrar of Cyprus ships have been and will continue to operate as usual,” he said in a written statement.

Mitsopoulos said the current situation has no direct or indirect effect on the Cyprus tonnage tax scheme. The date for the payment of the Cyprus registry maintenance annual fee and the tonnage tax, for the 2013 tax year, has been extended to April 15 instead of March 31, the statement said.

‘Thus those who make payments by then will not incur any surcharges. Such payments could be effected, as always, either in Cyprus or at any one of the Diplomatic or Consular Missions of the Republic of Cyprus abroad,” it added.

Although the Cyprus flag fleet ranks amongst the 10th largest in the world, the banks in Cyprus, historically, have not been active in ship financing, Mitsopoulos said.

“The recent developments are not affecting and have no impact on the financing of Cyprus ships.

The department will continue monitoring the situation and will promptly and proactively deal with any matters stemming from the circumstances, it said.

Source: Cyprus-Mail