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Cyprus Holds The Helm: Among EU’s Top Maritime Freight Hubs In 2023

In a year where the sea remained the backbone of freight logistics across Europe, Cyprus emerged as a leading maritime force. According to new Eurostat data, the island ranked second among EU member states for the volume of goods transported by sea, with 96.5% of its freight moving via maritime routes in 2023.

Across the European Union, sea transport dominated the freight landscape, accounting for 67.4% of total tonne-kilometres—a measure that factors cargo volume and distance travelled. While Portugal led with 98.2%, Cyprus and Greece closely followed, showcasing the strategic importance of the Eastern Mediterranean in European trade flows.

modal split freight transport 2023

For 15 of the 22 coastal EU countries, shipping was the primary mode of freight transport. In 10 of them, it represented more than 70% of all movement. Cyprus stood out not only for its reliance on sea freight but also due to the absence of rail infrastructure and minimal inland waterway activity, further cementing its dependence on—and efficiency in—maritime logistics.

While road freight made up 25.3% of EU cargo transport, and rail lagged at 5.5%, Cyprus’ numbers underscore a regional contrast where shipping lanes—not highways—move the economy. Inland waterways (1.6%) and air freight (0.2%) played only marginal roles across the bloc, with Cyprus among countries where these modes are nearly nonexistent.

The report also reveals long-term shifts. Since 2013, only road transport has gained ground in the EU (+2.8 percentage points). Sea freight slightly dipped (-2.0 pp), indicating gradual diversification in continental logistics—but not in island nations like Cyprus, where geography still dictates logistics strategy.

Elsewhere in Europe, countries like Luxembourg (84.5%), Czechia (77.7%), and Hungary (70.7%) leaned heavily on road freight. Rail transport remained strong in Lithuania (31.7%) and Slovakia (30.1%), while Romania led in inland waterway transport (18.9%).

As Cyprus doubles down on its port infrastructure and continues to position itself as a critical maritime hub bridging Europe, the Middle East, and Asia, these figures highlight both a present strength and a future opportunity. In a shifting transport landscape, the island’s maritime dominance remains not just a necessity but a strategic advantage.

Cyprus Reduces Fuel Tax By 8.33 Cents As Prices Continue To Rise

The latest surge in fuel prices is putting unprecedented pressure on consumer purchasing power, forcing government intervention amid volatile global energy markets. Historic highs at the pump have compelled officials to enact further consumption tax cuts in a bid to stabilize household budgets while international trends remain unpredictable.

Government Intervention And Policy Measures

Authorities plan to approve an 8.33 cent per liter reduction in consumption tax on premium unleaded gasoline and diesel, effective from April 2026. This will be the third intervention since 2022, when fuel prices rose following the Russian invasion of Ukraine, and after a further adjustment in November 2023.

Historical Context And Comparative Analysis

Fuel prices have increased over recent years. In March 2022, premium unleaded stood at €1.442 per liter and diesel at €1.500. By November 2023, prices rose to €1.550 for gasoline and €1.709 for diesel. As of March 2026, gasoline reached €1.571 per liter and diesel €1.819. Compared with 2023 levels, gasoline prices increased by 1.8 cents per liter, while diesel rose by 10.9 cents.

Global Market Dynamics Impacting Local Prices

International benchmarks continue to influence domestic fuel prices. Brent crude remains above $100 per barrel, while the price of heavy Brent oil has increased by about 58% since February 2026. Market indicators such as the Platts Basis Italy index show increases of 52% for gasoline, 89% for diesel, and 88% for heating oil. These trends affect import costs and pricing across the local market.

Consumer Concerns And The Search For Relief

The planned tax reduction may provide short-term relief for transport fuels. Heating oil prices remain higher, reaching about €1.30 per liter, approximately 6 cents above previous levels. No tax reduction has been announced for heating fuel. According to Konstantinos Karagiorgis, reliance on private vehicles increases the impact of fuel price changes on households, given limited public transport options.

Outlook And Future Considerations

The tax reduction is expected to offset part of the recent increase in fuel costs. Consumer groups, including the Cyprus Consumer Association, have called for similar measures on heating oil. Further developments will depend on global energy prices and geopolitical conditions.

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