The Daleela passenger and car ferry will resume its sailings from Limassol to Piraeus from the end of May to early September, with ticket prices slightly up from last year. The ferry carried 7,407 passengers, 2,496 vehicles, and 455 pets last year, earning the operator an annual subsidy of €5.5 million. The ferry will depart on Wednesdays and Sundays from Limassol and Tuesdays and Fridays from Piraeus. Ticket sales will start on April 17.
The ferry service to Greece from Cyprus has been very successful, exceeding expectations. The routes will depart solely from Limassol to Piraeus this year. The ferry offers cabins, airline seats, two coffee bars, lounges, a restaurant, and a casino. Ticket purchases will open on Wednesday. There are hopes of adding maritime connections to other neighboring countries in the future.
Construction of the €1.2 bln Larnaca port and marina project is back on track after the operator and the Cyprus government reached a compromise agreement over a financial deadlock. The company agreed to provide a letter of guarantee of €4.2 mln instead of the €10 mln required by the state. Once the guarantee is submitted, construction work is expected to resume in June. Failure to provide the guarantee could result in Kition having to pay damages to the state.
Kition Ocean Holdings has agreed to renew their financial guarantee for the development of Larnaca’s port and marina. The amount of the financial guarantee under the contract is €10 million, but the consortium has currently placed €4.2 million. The guarantee is expected to be deposited in the coming days to allow the project to continue according to the contract terms. President Nikos Christodoulides chaired the meeting where this agreement was reached.
The current year is considered lost for the cruise sector due to significant losses in tourist arrivals compared to previous years. The decrease in cruise ships at Limassol port is attributed to the war in Gaza since late 2023, affecting the wider Eastern Mediterranean region. The number of cruise ships expected to arrive in 2024 is significantly reduced, with only 68 ships and an estimated 120,000 passengers. The Government has established a Cruise Tourism Working Group to develop a National Cruise Strategy. The goal is to become competitive and utilize cruise tourism to contribute to the economy and promote culture. The Deputy Minister of Shipping participated in discussions on decarbonising the cruise industry and increasing tourist arrivals via cruise ships in the coming years. The war in Israel has led to a decrease in Cypriots traveling by cruise ships, with only 25,000 expected to travel in 2024, mainly during the summer period.
– Stakeholders are meeting to discuss the impasse over the future of the planned Larnaca marina and port revamp.
– Kition Ocean Holdings filed a case against the government for causing delays and breaching the contract.
– The government had been unwilling to meet the company to discuss a difference in a financial guarantee.
– Kition Ocean Holdings has been threatened by the government.
Fact: The Glowmorous Dinner charity event, organized by the Karaiskakio Foundation and Ayia Napa Marina, aims to financially support the Paediatric Oncology Centre of the foundation and will feature a performance by Greek singer Despina Vandi.
President Nikos Christodoulides will chair a meeting with stakeholders to push ahead with the stalled €1.2 billion Larnaca port and marina project. The bone of contention is the renewal of a €10 million guarantee by Kition, with the company stating they have no intention to renew it without amending the concession agreement. Transport Minister Alexis Vafeades has called on Kition to renew the guarantee, warning of potential damages to the state if not done. An ad hoc committee has been set up to help break the deadlock, while the Cyprus Chamber of Commerce president criticized the company for not being clear about their intentions. Another issue is the preservation of the historical pier in Larnaca, which is part of the town’s heritage and is being restored as part of the wider development plan for the port and marina.
The major projects in the Larnaca port and marina, part of a €1.2 billion investment, are facing delays with the company breaching terms of the agreement. The agreed timeline for the first phase includes various construction works in the port, marina, infrastructure, and real estate development. The company requested an extension to start construction in June 2024, but failed to renew a guarantee and requested changes in project order. A court order has temporarily prohibited the state from collecting money from other guarantees, with a hearing scheduled for April 15. The President of the Republic will meet with company officials to find a solution, as the future of the investment hangs in the balance.
A conference will be held on Monday morning at the Presidential Palace to discuss the unified development of Larnaca port and marina. The meeting will be attended by company representatives, the Director-General of the Ministry of Transport, Communications and Works, and the Mayor of Larnaca. The President of the Republic expressed his intention for the meeting, which will address issues related to the project. The company has not shown willingness to submit a performance bond, and there has been no change in their stance so far.