Today we visited the shipping industry of Cyprus located in Limassol. We listened to two presentations about the operation of the ports. Dubai Ports World and Eurogate are the two companies that work along with the Cyprus Port Authority. DPW helps with cruise lines and containers serving as the biggest port in Cyprus. The port was originally under the control of the Cyprus Port Authority before it was privatized in 2017. Although they are privatized they must still report to the government. Although the government does not fully own the company, they take 63% of the income they make. These companies both took over the shipping yards from the Cyprus government in 2017 and acquired a 25-year lease on them. They run the passenger terminal as well as the general cargo terminal in Limassol.
We then met with Eurogate, a company that focuses on shipping of storage containers. We toured the dock and operations area where we learned about their safety procedures and their day to day functions. In order to stand out amongst the other companies, they must focus on their price, location, and speed. The people who operate the cranes, to transport the containers, require intense training and take great safety measures, including at least 70 hours of training. Truck drivers must exit the crane when the container is being placed just in case the container lands the wrong way. The standard size for a single container is one TEU which is equivalent to twenty feet. Since Cyprus does not produce much they do not have many exports. A lot of the containers that they export are empty which costs a lot of money. Both of these companies serve as the distributor in the supply chain process. Our last visit of the day was with the Cyprus Port Authority, Cyprus Shipping Agents, and Limassol Chamber of Commerce. The Cyprus Port Authority controls all of the ports of Cyprus. It was very interesting to hear about the legal aspects of the shipping industry.