06th December 2025 – 12th December 2025
LOCAL NEWS
1. 2025 AMVER Awards Ceremony for “AMVER Awards 2024”
On Friday, December 12, 2025, the International Propeller Club of the United States, Port of Limassol, in collaboration with the Cyprus Union of Shipowners (CUS) and the Cyprus Shipping Chamber (CSC), organized the "AMVER Awards Ceremony 2025" presenting the awards of the Automated Mutual-Assistance Vessel Rescue (AMVER) program for the year 2024. The event took place at the Crowne Plaza Hotel in Limassol, under the auspices of the Shipping Deputy Ministry and the US Embassy in Nicosia.
The purpose of these Awards is to recognize Cyprus-based shipping companies that participate in the United States Coast Guard's AMVER program, which helps guide commercial shipping vessels to assist other vessels in distress on the high seas.
Following the welcome speech of the President of the Propeller Club of the United States, Port of Limassol, and President of our Union, Mr. Polys V. Hajioannou, Acting Deputy Chief of the U.S. Mission in Nicosia, Mr. Shane Siegel, presented the awards on behalf of Ambassador Davis and the U.S. Coast Guard, recognizing participating mariners and their companies. Mr. Siegel hailed AMVER as an excellent example of mutual assistance and partnership.
Twenty Cyprus-based companies were awarded for registering their vessels in the AMVER program in 2024 – a total of 301 awards for as many vessels, giving Cyprus the fifth highest number of AMVER awards worldwide.
Among the awarded companies, the following members of our Union were recognized for their contribution:
Enesel Ltd (2 awards), LMZ Shipping S.A. (1 award), Olympia Ocean Carriers Ltd (1 award), Osterreichischer Lloyd Seereederei (Cyprus) Ltd (1 award), Safe Bulkers Management Ltd (34 awards), Samos Steamship (Cyprus) Ltd (1 award), Star Bulk Shipmanagement Co. (Cyprus) Ltd (5 awards) and Transmed Shipping Co. Ltd (6 awards).
For more information on the event and the awarded companies, please visit the relevant links below.
Related Articles:
Attachment 1: Press Release – AMVER Awards – Saving Lives at Sea
US Embassy – Press Release - AMVER AWARDS – SAVING LIVES AT SEA
PhileNews 13/12 - Cyprus takes fifth spot globally in AMVER awards for saving lives at sea
U.S. Coast Guard’s unique worldwide search and rescue system – www.AMVER.com
2. UAE president agrees to boost trade during first-ever Cyprus visit
On Sunday, 14th December 2025, UAE President Sheikh Mohammed bin Zayed Al Nahyan made his first-ever visit to Cyprus, meeting President Nikos Christodoulides at the presidential palace in Nicosia for official talks.
Senior officials from both countries attended the reception. On the Cypriot side, these included Foreign Minister Constantinos Kombos, Transport Minister Alexis Vafeades, government spokesman Konstantinos Letymbiotis, Deputy Minister to the President Irene Piki, Reaeach Deputy Minister Nicodemos Damianos, and national security adviser Tassos Tzionis.
Intensive high-level contacts preceded the visit of the UAE President, focusing on identifying projects aligned with the UAE’s investment interests. Government sources emphasized that the UAE’s interest in investing in Cyprus is “intense and high.”
On Saturday 13th December 2025, the UAE Minister of Foreign Trade met with Cypriot Ministers to discuss specific investment opportunities.
As per government sources, energy cooperation appears to be among the UAE’s top investment priorities for Cyprus. They submitted a proposal for drafting a Comprehensive Strategic Energy Partnership that will function as an implementation roadmap for specific projects. These projects aim not only to promote energy initiatives but also to establish Cyprus—through collaboration with the UAE—as an energy hub for the broader region and the EU.
According to a statement from the government spokesman Konstantinos Letymbiotis after the meeting of the two leaders, discussions focused on deepening bilateral cooperation in key areas: investment, energy, technology, trade, education, culture, tourism, shipping, security, and critical infrastructure.
Both leaders agreed that the visit marked a transition from strategic alignment to practical implementation, emphasising the importance of measurable objectives and actionable plans to strengthen the relationship.
Particular attention was given to investment, with the UAE expressing interest in direct and substantial initiatives in Cyprus, especially in sectors of high value such as energy, infrastructure, technology, tourism, and shipping.
To facilitate practical cooperation, the two countries will establish a permanent business framework through a joint UAE-Cyprus business council, linking the Cyprus chamber of commerce and industry, Invest Cyprus, and the UAE chamber of commerce federation.
The visit also addressed the ongoing negotiations for a free trade agreement between the UAE and the EU, expected to open further opportunities for trade, investment, and cooperation.
Related Articles:
UAE president agrees to boost trade during first-ever Cyprus visit | Cyprus Mail
UAE proposes roadmap for Cyprus to emerge as regional energy hub | in-cyprus.com
INTERNATIONAL NEWS
3. Election of the New Board of Directors of ECSA
The elections for the new Board of Directors of the European Community Shipowners’ Associations (ECSA) were successfully concluded on Friday, 12 December 2025, in Brussels.
Our Union extended its sincere congratulations to Mr. Mikki Koskinen on his election as President of ECSA, effective 1 January 2026, for a two-year term. Mr. Koskinen will be joined by Mr. Nikolaos Veniamis, who has been appointed as the new Vice-President of the European Association. Mr. Koskinen succeeds Ms. Karin Orsel, who made history in January 2024 as the first female President of ECSA, leaving a strong legacy of leadership and commitment to European shipping.
The newly elected governing body reflects the strength and diversity of Europe’s maritime sector. In particular, we welcome the strong representation of Greek shipping leadership within ECSA, underlining the significant contribution of Greek maritime expertise to European shipping policy, competitiveness, and sustainability.
We are also proud to note that Cyprus will be represented by our Union’s Member, Mr. Nicolas V. Hadjioannou, with Mr. Philippos Philis serving as Alternate, ensuring our country’s active and meaningful participation in the deliberations and decision-making processes shaping the future of European shipping.
We look forward to continuing our close cooperation with ECSA’s new leadership and to working together in advancing our shared priorities, promoting a competitive, sustainable, and resilient European maritime sector.
4. Over 30 Sanctioned Ships in Venezuela at Risk After US Tanker Seizure
On the 10th December 2025, US President Donald Trump announced that US forces have seized an oil tanker off the coast of Venezuela, marking a sharp escalation in Washington's pressure campaign against Nicolás Maduro's government.
The seizure, was the first of an oil cargo from Venezuela, which has been under U.S. sanctions since 2019, and the Trump administration's first known action against a Venezuela-related tanker.
According to CNN, the capture of the tanker is certain to be seen throughout the region as an implicit warning to other tanker captains of the risks in loading up in Venezuela and operating around its waters, as well as a blow to the shadow fleet of tankers that traffic sanctioned oil for nations like Iran.
The U.S.action, has put many vessel owners, operators and shipping agencies on alert, with many reconsidering whether to set sail from Venezuelan waters in the coming days as planned, shipping sources said.
According to Reuters, on Thursday 11th December 2025, six sources familiar with the matter said that the U.S. is preparing to intercept more ships transporting Venezuelan oil. Further direct interventions by the U.S. are expected in the coming weeks targeting ships carrying Venezuelan oil that may also have transported oil from other countries targeted by U.S. sanctions, such as Iran, according to the sources familiar with the matter who declined to be named due to the sensitivity of the issue.
Therefore, the targeting of Venezuela-origin cargoes is expected to create short-term export delays and could scare some vessel owners away, experts and analysts say.
On the other hand, according to experts, seizure off Venezuela, attacks in Black Sea and ongoing sanctions should push Asian crude buyers to charter more compliant tankers, thus boosting rates.
In recent days, the US has ramped up its military presence in the Caribbean Sea, which borders Venezuela to the north. The build-up involves thousands of troops and the USS Gerald Ford being positioned within striking distance of Venezuela, BBC Verify reported. The move has sparked speculation about the potential for some kind of military action.
Related Articles:
Over 30 sanctioned ships in Venezuela at risk after US tanker seizure | Reuters
US seizes oil tanker off Venezuela as Caracas condemns 'act of piracy'
US seize sanctioned tanker off the coast of Venezuela - SAFETY4SEA
US seizure of rogue oil tanker off Venezuela signals new crackdown on shadow fleet - ABC News
More vessels could face trouble after US tanker seizure of Venezuela - SAFETY4SEA
5. EU, G7 weigh ban on maritime services for Russian oil exports, end to price cap. The ban could be part of the EU's 20th package of sanctions against Russia
On the 5th December 2025 Reuters reported that sources, who are familiar with the issue but declined to be named due to the sensitivity of the matter, said that the Group of Seven countries (G7) and the European Union are in talks to replace a price cap on Russian oil exports with a full maritime services ban in a bid to reduce the oil revenue that helps finance Russia's war in Ukraine.
The ban would end that trade, which, according to Reuters and other media, is mostly done through the fleets of UK, G7 and EU maritime countries including Greece, Cyprus and Malta, in compliance with all the exiting sanctions, port and price cap laws and regulations.
The ban could be part of the EU's next package of sanctions against Russia (20th package), slated for early 2026, three out of the six sources told Reuters. The 27-nation EU would like to approve the ban together with a broader G7 agreement before proposing the ban in the package, two of the six sources said.
British and American officials are pushing forward the idea in technical G7 meetings, the sources said. Any final U.S. decision would depend on the pressure tactics President Donald Trump's administration chooses amid ongoing peace talks it is brokering between Ukraine and Russia, four sources said.
While the G7 and EU have significantly reduced imports of Russian oil since 2022, the new measure would mark the closest they have ever come to a total ban on dealing with Russian crude and fuel not only at the level of imports but also transportation and maritime services.
Following the aforementioned Reuters report, key EU shipping nations Cyprus and Malta said that discussions on the need to tighten sanctions on Russia, including the possibility of a blanket ban on providing maritime services, should not be at the expense of legitimate businesses in the industry.
Cyprus and Malta, which, as Reuters pointed out, along with Greece have the largest fleets in the EU, said tightening sanctions should not target bona fide maritime businesses.
In particular, the Maltese government said in a statement that "Any shift away from the price cap must avoid pushing maritime services to non-EU jurisdictions, where the EU would lose oversight and, with it, the leverage needed to uphold European standards".
"There needs to be a holistic approach," Cypriot Foreign Minister Constantinos Kombos said. He said that while additional pressure on Russia was needed, the focus should also be on sanctions dodging. Latvian Foreign Minister Baiba Braze, who is visiting Cyprus, echoed Kombos’ comments. She said the discussion needed to be “calibrated,” and that it had also been discussed with the United States. “We have discussed how to increase sanctions efficiency,” she said.
Related Articles:
Exclusive: EU, G7 weigh ban on maritime services for Russian oil exports, end to price cap | Reuters
EU and G7 in talks for ban on maritime services for Russian oil exports - SAFETY4SEA
Cyprus and Malta warn that tougher Russia measures could disrupt EU-flag maritime services
G7, EU mull ban on Russian oil maritime services, but experts skeptical
G7 and EU in talks on full ban on Russian maritime services | investingLive
6. EU countries' ambassadors approve phase out of Russian gas imports
Further to last week’s related report of our Union, on Wednesday, 10th December 2025, European Union countries' ambassadors endorsed the agreement reached last week by the European Parliament and the EU Council on the definitive end to Russian gas imports: the amendment of the RepowerEU regulation. The plan aims to phase out Russian gas imports by halting Russian liquefied natural gas imports by the end of 2026 and pipeline gas by the end of September 2027.
The decision was taken by a majority, with two states voting no, at the meeting of the permanent representatives of the 27 (Coreper). “Coreper I confirmed the agreement on the final compromise and will now inform the European Parliament as usual,” the Danish Presidency of the EU Council announced.
The legislation is considered important in Brussels because, unlike sanctions, it entails a permanent ban on Russian gas and includes strict control mechanisms.
According to legal experts, some of the compliance consequences of the Agreement will be:
- Stricter contract limits, enhanced origin-tracking, and reinforced anti-circumvention rules tighten compliance obligations
- Member States must file diversification plans and notify the Commission of Russian contracts within one month of entry into force
RePowerEU will now have to be voted by the plenary of the Parliament next week and finally receive final approval from the EU Council early next year. The regulation will enter into force the day after its publication in the Official Journal of the EU, and the ban will enter into force six weeks later.
EU officials expect both to approve the deal with a comfortable majority, despite opposition from Hungary and Slovakia.
Related Articles:
EU countries' ambassadors approve phase out of Russian gas imports | Reuters
EU ambassadors confirm agreement on full ban on Russian gas
The EU to phase out Russian gas imports | 15-12-2025 | News | European Parliament
New EU deal fast-tracks the permanent phase-out of Russian gas | Trade Compliance Resource Hub
Europe sets 2027 deadline to wean itself from Russian gas | The Week
7. Brussels Adds New Names To Blacklist In Latest Russia Sanctions Package
On Wednesday, 10th December 2025, European Union ambassadors decided on further sanctions against Russia, with a new package adding several individuals and entities to its sprawling blacklist.
While not a sweeping sanctions package involving sectoral restrictive measures hitting Moscow as in the past, the new measures focus on individuals and entities involved in facilitating Russia’s shadow fleet and in the global oil business in an attempt to hit Russia as it trades below the G7-imposed oil price cap that currently stands at $47.60 per barrel.
On the 12th December 2025 Brussels is also set to list 43 boats it believes are part of the actual shadow fleet. The list, which currently has over 500 vessels on it, bars those boats from being serviced in any way in any EU port.
EU ambassadors also agreed to target people who they believe have carried out destabilizing activities on behalf of Russia around the globe.
Related Articles:
Brussels Adds New Names To Blacklist In Latest Russia Sanctions Package
8. BIMCO Documentary Committee adopts new clauses and sets 2026 priorities
On Thursday, 11th December 2025, the BIMCO Documentary Committee (DC) convened online and the meeting focused on adopting and reviewing various contracts and clauses.
Among the adopted contracts and clauses are two new contractual clauses, namely the FuelEU Maritime Clause and ETS Clause for Memoranda of Agreement (MoAs) 2025.These clauses address the obligations of the Sellers and Buyers of the ship under the EU FuelEU Maritime Regulation and Emissions Trading Schemes (ETS) in sale and purchase of a ship transactions, ensuring transparency and alignment with regulatory requirements.
“Regulations such as the FuelEU Maritime and EU ETS are complex and reshape our industry. Therefore, contractual clarity is essential. The new clauses offer parties the tools they need to manage compliance obligations and avoid uncertainty during ship transactions,” says Stinne Taiger Ivø, Deputy Secretary General and Director of Contracts at BIMCO.
Both clauses are developed to clearly define responsibilities, costs and data-sharing obligations under the current regulatory frameworks, and the ETS clause can also be used for similar emission trading schemes that may come into force in the future.
The FuelEU Maritime Clause for MoAs 2025 sets out the seller’s responsibilities to ensure compliance at the time of delivery of the ship, including provisions on disclosure of verified compliance balances for previous reporting periods and provides for a partial FuelEU report after delivery. It also includes mechanisms for price adjustments, based on positive or negative compliance balances, restrictions on borrowing advance compliance balance before delivery and obligations for buyers to supply post-delivery data as needed.
At delivery, buyers assume full responsibility for FuelEU compliance, including rights related to banking, borrowing, and pooling compliance balances.
The ETS Clause for MoAs 2025 provides a framework for allocating responsibilities related to greenhouse gas emission allowances during ship sale and purchase transactions. Sellers must comply with all reporting requirements for the period up to delivery, submit a verified partial emission report following delivery and surrender emission allowances for emissions incurred before transfer of ownership.
The Committee also examined the following:
- ETS Clause for BARECON: Work continues on developing an ETS clause for bareboat charters to clarify compliance responsibilities and provide flexibility for owners and charterers
- SALEFORM: The DC also reviewed progress on the revision of SALEFORM which includes updates to delivery provisions, sanctions compliance, and integration of new regulatory clauses
- Biofuel Clause for Time Charter Parties: Drafting work is progressing to address the safe and efficient use of biofuels under time charter arrangements, supporting decarbonisation efforts
- CO2TIME: A new contract for the carriage of liquefied CO₂, designed to reflect operational realities and regulatory requirements in this emerging sector.
- RECYCLECON: The contract for ship recycling is being revised to reflect the entry into force of the Hong Kong Convention and address reputational risks and current market practices
Related Articles:
BIMCO Documentary Committee adopts new clauses and sets 2026 priorities
BIMCO adopts FuelEU Maritime and ETS clauses for the sale and purchase of ships
BIMCO approves new FuelEU and ETS clauses for ship sales - Container News
BIMCO Adopts Fueleu Maritime And ETS Clauses For S&P
BIMCO: Progress on Biofuel Clause for Time Charter Parties - MaritimeCyprus
BIMCO adopts FuelEU Maritime and ETS clauses for ship sale contracts
BIMCO adopts FuelEU Maritime and ETS clauses for sale and purchase of ships | Manifold Times
BIMCO rolls out new FuelEU and ETS clauses for ship sale deals - Splash247
9. EU ETS/MRV: publication of updated list of shipping companies and their administering authorities
On the 8th December 2025, the European Commission adopted the implementing act updating the list of shipping companies and their administering authorities (AA), based on THETIS-MRV data extraction of August 2025.
As ECSA informed us, the list is now published in the Official Journal of the EU (here and enclosed) and will apply from 1 January 2026.
The full list of shipping companies by administering authority is in the Annex of the implementing act. The list will be updated every two years.
Related Articles:
Implementing decision - EU - 2025/2452 - EN - EUR-Lex
Official Journal of the European Union – 8/12: IA updated list administering authority and shipping companies
10. EU submission to Basel OEWG
As we have been informed by ECSA, the contribution from the EU and its Member States on the interplay of Hong Kong and Basel Conventions has been published on the Basel Convention website.
In its submission to the Basel Open-Ended Working Group (OEWG), the EU takes the position that the Basel Convention (BC) remains fully applicable and that the Hong Kong Convention (HKC) does not, at this stage, qualify as an Article 11 agreement. According to ECSA, this is not aligned with the approach that ECS has been advocating, in particular as regards the lex specialist principle.
ECSA emphasized the following important points of the EU position:
- MEPC83 agreed to assess HKC implementation through an experience-building phase and possible amendments. “Pending the result of this work, the EU and its Member States consider it would be premature to conclude that HKC may qualify as an Article 11 under BC.”
- Any guidance on the interplay between the two Conventions “should also clarify to which extent the two Conventions supplement each other and how they may be implemented in a coherent way by Parties to both Conventions.”
- The EU maintains that there are no conflicting provisions between the two Conventions and that they can be implemented in parallel, as demonstrated in the EU through the combination of Ship Recycling Regulation (SRR) and Waste Shipment Regulation (WSR).
- The submission acknowledges industry concerns: “Certain Parties and stakeholders consider that some administrative proceedings related to the transboundary movement may be redundant and create unnecessary difficulties for operators… especially that the PIC procedure is not well suited for ships.”
However, the EU concludes that exempting ships from PIC before HKC is strengthened would not be appropriate. - Once HKC implementation has been assessed, the EU considers it relevant to explore possible redundancies and unnecessary administrative burden arising from applying both Conventions in parallel.
Related Articles:
Attachment 2: EU and Members States comments on implementation of Hong Kong and Basel Conventions
11. US TREASURY REPORT
The US Treasury Report for all actions reported is hereby attached.
Related Article:
Attachment 3: US Treasury Report for week 06/12/2025-12/12/2025
12. PIRACY REPORT
The Piracy Report for all actions reported is hereby attached.
Attachment 4: 12/12/2025 - Worldwide Threat to Shipping (WTS) Report, for the period between 12 November 2025 – 10 December 2025
Nothing important to report from the ILO and the House of Representatives.