GENERAL

 

Chrysses Demetriades & Co is the market leader in this field. The firm was instrumental in the establishment of Cyprus as an offshore shipping centre and has been involved in the drafting and updating of all of Cyprus shipping laws. It is regularly called upon to advise the Cyprus Maritime Authorities.

 

The shipping department acts for some of the world's largest ship owning and ship management companies, advising them on a wide range of issues in connection with the operation of their Cyprus fleet. The firm currently represents ship owners who control approximately 50% of the Cyprus merchant fleet. The department advises on vessel registration under the cyprus flag and all related matters, chartering arrangements, trading contracts, regulatory compliance, shipbuilding and insurance. The firm believes that the provision of effective legal services to its shipping clients requires a thorough understanding of the nature of the shipping industry. All of Chrysses Demetriades & co's shipping department aims to provide clients with business-orientated advice assisting them in their decision-making.

 

SHIP FINANCE

 

Chrysses Demetriades & co has acknowledged expertise both in Cyprus and abroad in ship finance. A team, which includes 4 dedicated finance lawyers, act for financiers and owners on a wide range of financing transactions involving Cyprus vessels. The finance team undertake the drafting and negotiation of all documentation required in a financing transaction of the basis of the firm's own precedent documents which are regularly reviewed and updated. The finance team is also instructed by banks and international law firms on a regular basis to advise and give legal opinions of Cyprus law in relation to a wide variety of financing and security arrangements.

 

SHIP REGISTRATION AND MANAGEMENT

 

The department has a specialist unit which works closely with the Cyprus Department of Merchant Shipping and deals with the registration of vessels under the Cyprus flag, bareboat chartering and registration,transfer of ownership of vessels and all related matters. The unit also deals with the registration of vessels under the Liberian flag and certain other flags and related transactions. In addition, it provides a monitoring service to all the firm's shipping clients to ensure that their vessels comply with the requirements of the maritime authorities of the relevant flag country.