Υπουργός Μεταφορών – Υπογραφή σύμ
/ By Admin / Cyprus Marina • Larnaca port/ • • / 0 Comments

Contracts signed for €1.2 bln Larnaca Port & Marina development

Note: Shoham is not related with Kition Ocean Holdings

Long-awaited €1.2 bln redevelopment of Larnaca port and marina jumped the final hurdle on Friday as the Cyprus government signed contracts with Cypriot-Israeli investors.

At the signing ceremony, President Nicos Anastasiades expressed the government’s satisfaction, as the “development of Larnaca port and marina will fetch additional revenue of €120 mln per year”.

“Today is a special and highly important day for all Larnaca residents as a justified demand dating almost three decades …has entered the pipeline,” the president said.

The consortium awarded the project is Kition Ocean Holdings, a Cypriot-Israeli consortium, composing of investors Eldeman Holding BV and Alexandrou Corporate Services Ltd.

Tender negotiations between the two sides have been ongoing since late 2018 when the consortium’s bid was the only one left on the table after the other bidders pulled out.

Anastasiades said it was one of the biggest investments in the past seven years and it yet another reflection of Cyprus’ excellent relationship with Israel.

“The implementation of projects like the unified development of the port and Larnaca marina and the potential of fully utilising its development zone is undoubtedly recognised as landmark projects and a driving force for the economy.”

On behalf of the Israeli investors, the executive director of the Jordache Group, Avi Hormaro, said: “We are ready to immediately proceed with the working groups to ensure we will deliver the project on time”.

There will be a transition period until January 2022, and work will be carried out in four phases over 15 years.

On behalf of Kition Ocean Holdings Panayiotis Alexandrou, the executive director, said the consortium is committed to creating a functional port and the creation of an ultra-modern marina in the eastern Mediterranean while respecting the environment and the area’s character.

Alexandrou said the project will create over 4,000 jobs and opportunities for Cypriot and foreign entrepreneurs.

Transport Minister Yiannis Karousos welcomed the investment after signing contracts.

“Development of the port and marina area of Larnaca has been promoted for years, now the time has finally come for its implementation”.

Following the issuance of the required permits, work is expected to begin in two years, including port expansion with infrastructure for cruise ships and commercial use.

The contract involves the restructuring of the marina for at least 650 berths, the port and surrounding land development over an area of 220,000 sqm spanning to a total of 510,000 sqm.

Plans include the development of the marina with the latest technological infrastructure, turning Larnaca port it into one capable of serving large vessels with the expansion of piers, docks, and the construction of a modern passenger terminal.

As part of the marina development, there will be a yacht club with a retail park, plus hotels, a private island and residential properties.

Port works will also include the expansion and management of Larnaca port, improving current infrastructure such as the interior road network, storage space as well as creating a new terminal for cruise ships and utilising the port for cargo management.

The area between the marina and the port will see infrastructure works carried out, including a road network, green areas, parks, open spaces for events, as well as an educational and medical centre.

The consortium is also planning residential and commercial development with innovative architecture, streets, and parks.

Under the proposed venture, it is estimated that the state will receive more than €19.6 bln during the lifetime of the project which includes the 125-year lease on the real estate.

The BOT project will see the government receiving fixed rent and a percentage of the revenue through a concession agreement with the port/marina operated on a 40-year lease and the real estate is acquired on a 125-year lease.

After 40 years, the port and marina can be handed back to the government who will then decide on their management.

The complete project will span over 15 years or more as it includes building two hotels (lifestyle/business), nine office buildings (mixed-use) of up to 15 floors each and six luxury apartment blocks up to 13 floors each.

Source: Financial Mirror

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Fast sailing to North Europe

Due to change in rotation the new ETA of m/v DIMITRIS Y to Limassol 27/11 instead of 21/11.

The ETA at the destination ports in North Europe, UK will not be affected.

Faster transit time to Europe, UK

Due to this change the transit time will be as follows:

  • Felixstowe – 9 days
  • Hamburg – 11 days
  • Rotterdam – 14 days
  • Antwerp – 15 days
  • Le Havre – 17 days
larnaca port marina expansion
/ By Admin / Cyprus Marina • Larnaca port/ • / 0 Comments

Cabinet approves key Larnaca port, marina expansion to start 2022

****SHOHAM has no connection to KITION OCEAN HOLDINGS****

THIS BLOGPOST IS FOR INFORMATIVE PURPOSES.

The long-awaited €1.2 bln redevelopment of Larnaca port and its marina got the final green light from the government on Friday with construction scheduled for January 2022.

Transport Minister Yiannis Karousos, in a written statement, said the cabinet approved the contract to be signed with the chosen consortium for one of the most important development projects for the coastal town.

“Investments for this grand project are expected to exceed €1 bln with the estimated benefits for the local economy, in addition to the creation of new jobs, expected to exceed €120 mln annually during the completed development.”

Karousos stated the cabinet “expressed its satisfaction with the Project and has authorized me to proceed with the signing of the Concession Agreement. Therefore, in the coming days, we will invite the successful bidder for the signing ceremony”.

He said the signing will take place as soon as possible with work on the project starting in January 2022, following a 12-month transition period from when the agreement is signed.

This will give time for the investors to take over the project – which will take 10 to 15 years to complete — in its entirety.

Karousos said he was is “pleased to be in a position to proceed immediately with the signing of the contract at this difficult time with the pandemic crippling sectors of the economy”.

The consortium awarded the project is Kition Ocean Holdings, a Cypriot-Israeli consortium, composing of investors Eldeman Holding BV and Alexandrou Corporate Services Ltd.

Tender negotiations between the two sides have been ongoing since late 2018 when the consortium’s bid was the only one left on the table after the other bidders pulled out.

The contract involves the restructuring of the marina for at least 650 berths, the port and surrounding land development over an area of 220,000 sqm spanning to a total of 510,000 sqm.

Plans include the development of the marina with the latest technological infrastructure, turning Larnaca port it into one capable of serving large vessels with the expansion of piers, docks and the construction of a modern passenger terminal.

As part of the marina development, there will be a yacht club with a retail park, plus hotels, a private island and residential properties.

Port works will also include the expansion and management of Larnaca port, improving current infrastructure such as the interior road network, storage space as well as creating a new terminal for cruise ships and utilising the port for cargo management.

The area between the marina and the port will see infrastructure works carried out, including a road network, green areas, parks, open spaces for events, as well as an education and medical centre.

The consortium is also planning residential and commercial development with innovative architecture, streets, and parks.

Under the proposed venture, it is estimated that the state will receive more than €19.6 bln during the lifetime of the project which includes the 125-year lease on the real estate.

The BOT project will see the government receiving fixed rent and a percentage of the revenue through a concession agreement with the port/marina operated on a 40-year lease and the real estate is acquired on a 125-year lease.

After 40 years, the port and marina can be handed back to the government who will then decide on their management.

The complete project will span over 10 years or more as it includes building two hotels (lifestyle/business), nine office buildings (mixed-use) of up to 15 floors each and six luxury apartment blocks up to 13 floors each.

Source: Financial Mirror

/ By Admin / Car Shipping/ / 1 Comment

Second-hand cars stranded at port as tax fraud scheme investigated

Hundreds of cars from the UK have been stranded at Limassol port since the weekend as the customs and tax departments issued a directive on Tuesday forcing buyers to pay a deposit to release their car from customs.

The issue caused mass confusion among those who had already bought the cars, as many were caught off-guard by the directive, and some did not have the money for the deposit, calculated at 25 per cent of the cost of the vehicle.

According to reports, 914 cars have been stranded at the port since the weekend as the directive was implemented without warning.

The tax and customs departments issued a statement saying the fee was imposed after information some individuals were buying cars and selling them in Cyprus as part of a tax fraud scheme.

Speaking to Sigma TV, Nicosia head of the Pancyprian Association for the Import of Cars Pambos Kolokotronis said warnings had been issued on the matter by the tax department since January.

“The department warned buyers they could fall prey to people importing cars without the proper tax paid,” he said.

In their statement on Tuesday, the department said the cars were being imported and resold by individuals not registered with the tax department.

In March, the tax office said that luxury cars were being advertised at lower prices on social media by UK companies to lure private buyers from Cyprus. However, the sellers may be involved in a tax scam.

Cyprus, in cooperation with UK authorities, is investigating cases of traders selling cars to Cyprus who may have avoided paying the VAT in both the UK and Cyprus.

The suspect fraudsters are said to be pulling off the tax dodge through double invoicing.

It is believed that mainly UK dealers issue one invoice to the buyer who uses it to clear the car from customs and register it in Cyprus and a second showing that the car has been sold to a VAT registered company in Cyprus which they present to UK authorities.

In the first case, it is assumed that the VAT was paid in the UK, while in the second case the company supposedly registered in Cyprus will pay the VAT.

The tax office urged the public to be careful with such transactions and to ensure that VAT payment is correctly stated in the sales documents either in the UK or in Cyprus.

One buyer, who contacted the Cyprus Mail, said decision is “ridiculous” as it was made without notifying the buyers, who have had their cars stranded at the Limassol port.

“Surely, it [the directive] should be phased in rather than changed overnight,” the buyer said.

The outraged buyer added his vehicles were in transit when the directive was suddenly sprung on them.

Commenting on communication with customs, the buyer said most of the officers were unaware of the changes and had no information on the fate of the stranded vehicles.

“It is very bizarre,” the buyer said.

In their statement, customs said the buyer can pay the fee or have the car sent to a customs storage facility until the investigation for each vehicle is complete.

Source: Cyprus Mail

DEPUTY minister visit VTTV
/ By Admin / Energy • Shipping News/ • / 0 Comments

VTTV €150 million projects boost for shipping

VTT Vasiliko, the Dutch-controlled international energy trader playing a key role in developing the Vasiliko energy hub since 2014, has two more storage projects in the pipeline worth about €150 mln.

The new projects will also boost the Cyprus maritime sector to benefit from increased cargo traffic, as well as services provided by local companies.

Deputy Shipping Minister Vassilis Demetriades visited the VTTV premises where he reviewed first-hand the ship-to-shore fuelling facilities and was also briefed about the upcoming projects.

“The facilities and services provided at the liquid fuel storage terminal at Vasiliko are of the highest standard. What is more impressive is the ultra-modern jetty for the loading and unloading of tankers, as well as the unique ship-to-ship fuel transfer,” Demetriades said.

The junior minister said the synergies of the energy and maritime sectors are evident at Vasiliko, offering great potential to the Cyprus economy.

VTTV’s CEO, George Papanastasiou, said the terminal was the biggest foreign direct investment in energy infrastructure that has a direct impact on shipping.

It was delivered in November 2014 by J&P for €300 mln. The company employs 66 people, up from 25 when it started.

VTTV owns the state-of-the-art jetty in the Vasiliko port, at proximity to the country’s power plants.

It can be adapted for the upcoming FSRU terminal that will provide natural gas for consumption by the local energy producers, primarily the Electricity Authority of Cyprus.

The project, a subsidiary of international oil storage terminal operator VTTI B.V., 50% of which is owned by Dutch Vitol, features 28 tanks with a total storage capacity of 545,000 cubic metres of core fuel (diesel, gasoline and jet fuel) a deep-water marine jetty as well as road tanker loading facilities in phase one.

“The terminal, in conjunction with the island’s strategic location near the Suez Canal, places Cyprus on the map of these fuel transports,” Papanastasiou said.

Papanastasiou told the Financial Mirror that the two projects underway are a small private LNG terminal that is earmarked to cost €15-20 mln, able to serve the local market and also exports to nearby markets, such as Lebanon.

The second is a larger project that is expected to cost some €120-130 mln and will store the Euro-spec output of a major regional refiner for supply to the European markets.

He said VTTV storage is at near-capacity and could not offer its service to oil majors when the price of US crude turned negative in April when the price of the benchmark West Texas Intermediate (WTI) fell as low as minus $37 a barrel.

VTTV is also part of the H4E Gasfuel consortium for the design and construction of a floating storage regasification unit (FSRU) in Cyprus.

The consortium includes Norway’s Hoegh LNG, which has submitted a proposal for the installation of an FSRU in Cyprus by next year.

The consortium aims to provide liquefied natural gas to Cyprus as soon as possible, which will reduce electricity costs for local consumers as well as gas emissions and gas emissions taxes.

With its proposal, Hoegh LNG “offers Cyprus the installation, within the first quarter 2021, of an FSRU at Vasiliko and a pipeline to transport the gas to the EAC’s power plant and potentially other users.”

It said the proposal “does not in any way interfere with the government’s plans, while the Cyprus government will be able to save over €100 mln per year from 2021 onwards, by switching power generation to burning natural gas from heavy fuel oil.”

Cyprus can also achieve lower emissions from power generation, resulting in lower cost while the economy will benefit significantly from lower electricity production cost, said Hoegh LNG in a recent statement.

Source: Financial Mirror

/ By Admin / Shipping News/ / 0 Comments

Cyprus-Piraeus ferry connection by May 2021 viable

The deputy shipping minister said things are on track for launching the Cyprus-Greece ferry connection by May 2021

The goal of launching the Cyprus-Greece ferry connection in May 2021 is on track, the Cyprus deputy shipping minister Vasilis Demetriades said Tuesday.

Demetriades noted that the deputy shipping ministry is in the final stage of setting up the terms of the tender, which is expected to be launched within October.

“The timeframe for May is realistic, because after the launch of the tender we’ll be allowing a period of two to two and a half months for candidates to study proposals, with the goal of the ferry link beginning in early May being part of the terms of the tender, so that we can be ready for the summer season,” Demetriades said, speaking before the House tourism committee.

Interest in the project has been expressed by parties in Cyprus, Greece, but also from the wider European area.

Demetriades noted that there are still matters that are being discussed with Greek authorities, and particularly will officials at Piraeus port, such as matters relating to terminal issues and customs controls as this route will be the first from a country outside the Schengen area.

He said that the state subsidy, for which pre-approval has been secured by the Directorate General of Competition, concerns the passenger aspect of the route for three years, adding that this period is enough to show that the operation of the route is sustainable. Demetriades expressed hope that if the interest expressed “converted into use, I believe that the service will be sustainable in itself”.

Demetriades said that the bidders will have the option of choosing either the Larnaca or Limassol port as the route’s departure point, while they will also have to pick an intermediate stopping point, stressing that the duration of trip is considered an important factor, noting that the Larnaca port is disadvantaged in terms of distance.

The ceiling on the price of a one-way ticket has been set at €50, and €80 for a return ticket.

The Greece-Cyprus ferry connection will help Cypriots embrace shipping, which contributes 7% to the country’s GDP, employs at least 9,000 in shipping companies, about 50,000 seafarers and constitutes 3% of the island’s workforce, Demetriades noted.

Source: KNEWS

/ By Admin / Car Shipping/ / 0 Comments

Car export from Cyprus

Αυτοκινητο μπορεί να εξαχθει εαν:

  • Είναι ακινητοποιημένο και φέρει το πιστοποιητικό ακινητοποίησης.
  • Αν πληρώσει τις οφειλόμενες άδειες κυκλοφορίας. (συνήθως ήταν 3 χρόνια και μετά διαγράφετουν)
  • Ή μπορεί να δοκιμάσει να πιάσει φόρμα από την αρχή αδειών και να πάει στον πρωτοκολλητή στο δικαστήριο και να κάνει δήλωση ότι από την χρονιά που δεν ανανέωνε τις άδειες κυκλοφορίας, ήταν λόγω μηχανικού προβλήματος και μετά θα πάει να το καταθέσει στην αρχή αδειών και να περιμένει αν του εγκρίνουν για να μην πληρώσει τις οφειλόμενες Άδειες.

Επίσης για την εξαγωγή χρειάζεται το original κοτσιάνι.

/ By Admin / Shipping News/ / 0 Comments

DP World Limassol welcomed the Ambassador of Israel to Cyprus to the New Passenger Terminal

The development of the maritime tourism sector and ways to boost cooperation between Cyprus and Israel, were discussed at a meeting held at the Limassol port, between the Israeli Ambassador to Cyprus, H.E. Mr Shmuel (Sammy) Revel, the Chairman of the Limassol Tourism Board, Mr. Tony Antoniou and DP World Limassol officials.

DP World Limassol officials welcomed the Israeli Ambassador and the Chairman of the Limassol Tourism Board to the Limassol port on Thursday, 10 September 2020. Mr Revel had the opportunity to tour the facilities of the New Passenger Terminal and meet with DP World Limassol’s CEO, Nawaf Abdulla, with whom they exchanged views on ways to respond to the emerging challenges facing the tourism and cruise industry of the Eastern Mediterranean, due to the Covid-19 pandemic.

In statements as part of the visit, the Israeli Ambassador referred to the mutual benefits derived from close cooperation between Israel and Cyprus and stressed that great prospects could open up through joint projects and synergies. “We recognize the significance of tourism for our respective economies and therefore the importance of maintaining a close relationship with Cyprus, host to one of the most important ports of the region. In fact, last year, Israel and Cyprus agreed to jointly promote the Eastern Mediterranean region as a prime holiday destination for cruise lines and even though the pandemic has pushed back our plans for the cruise sector, we strongly believe that our efforts will bear fruit in the near future.”

From his part Mr. Tony Antoniou, Chairman of the Limassol Tourism Board, emphasised the importance of Cyprus-Israel cooperation in the cruise sector and the mutual benefits from joint promotion of the region.

On his part, DP World Limassol’s CEO, Nawaf Abdulla, pointed out that “Establishing the Limassol port as a major cruise hub in the Eastern Mediterranean continues to be one of our major objectives”, adding that “even though the cruise industry was severely affected by the pandemic, we are optimistic that by connecting Limassol with other ports and boosting our cooperation with important neighboring countries like Israel, we can help establish a thriving cruise industry, which will create multiple benefits for the local economy”.

Source: DP World Limassol

/ By Admin / Energy/ / 0 Comments

Larnaca fuel tanks demolition will go ahead in 2021

Good news for Larnaca as residents long-standing demand for the demolition of fuel and gas storage tanks on the town’s coast is expected to be realised in a year.

Fuel and gas industry stakeholders participated in a meeting at the Presidential Palace with President Nicos Anastasiades on Friday, during which they committed to complete work for the transfer of their oil tanks to the fuel terminals at Vasiliko.

At the meeting, EKO and Petrolina representatives said that they have either submitted or will soon submit applications for permits to demolish their Larnaca installations.

Demolishing the oil storage tanks in the town has been a long-standing issue that has plagued Larnaca’s development for decades.

The demolition process is expected to be completed sometime in the summer of 2021.

Port Authority representatives confirmed that the necessary studies for the transfer of the gas facilities with final decisions taken at the end of the year.

In the meantime, companies will continue on the necessary infrastructure at Vasiliko with work on the gas facilities expected to take longer as significant modifications are needed at the terminal.

President Anastasiades is to meet Larnaca Mayor Andreas Vyras and the municipal council on Monday when he is to inform them on what the fuel companies have agreed.

Residents have voiced concern about the delays in removing a very visible eye-sore on prime coastal land.