3rd May 2025 – 9th May 2025
LOCAL NEWS
No news reported.
INTERNATIONAL NEWS
1. Cyprus scores high ranking on Tokyo MoU’s 2024 “White List”
On May 1, 2025, the Tokyo Memorandum of Understanding (Tokyo MoU), one of the most active regional Port State Control (PSC) organizations in the world, published its Annual Report for 2024, based on 32,054 inspections involving 18,655 individual ships.
According to the "White List" of the Tokyo MoU, which evaluates the performance of flag states in the Asia-Pacific region, Cyprus ranks among the countries with the highest positive performance indicators.
Specifically, Cyprus achieved the 11th position out of 118 states assessed, marking a significant rise in the Tokyo MoU’s White List, a distinction reserved for flags recognized for reliability and compliance with international maritime standards. This reflects the continuous improvement and excellent performance of the Cyprus flag in international ship inspections throughout 2024. (Attachment no. 1)
Notably, Cyprus improved from 20th place in 2023 to 11th place in 2024, indicating a clear upward trend in its flag performance.
It is also worth noting that Cyprus has outperformed other well respected flag states, such as Liberia, Malta, the Bahamas, the Philippines, the Marshall Islands, and Singapore for 2024. This development is of great significance, as it highlights Cyprus’s growing reputation and provides international validation of the quality and reliability of its merchant fleet.
Another indication of the positive performance and quality of the Cyprus flag is its inclusion as a positive performance state in the International Chamber of Shipping (ICS) Flag State Performance Table 2024/2025, which is being published annually for the past 20 years. Based on objective, publicly available data, this table summarizes the performance of flag states, with positive indicators shown as green squares. The relevant table is attached, for your ease of reference. (Attachment no. 2)
Related Articles:
Attachment 1: Tokyo MoU’s Annual Report 2024 – WHITE LIST
TOKYO MOU 1/5/25 - Annual Report on Port State Control in the Asia-Pacific Region 2024
IIMS.org 2/5/25 - Tokyo MOU Annual Report 2024 published
Attachment 2: ICS - Shipping Industry Flag State Performance Table 2024/2025
Safety4Sea 02/05 - Tokyo MoU Annual Report 2024
2. US and UK agree deal slashing Trump tariffs on cars and metals, while US eye cutting tariffs to below 60% at US-China talks
On Thursday, 8th May 2025, US President Donald Trump announced a trade deal with the UK, the first for his administration since imposing — then pausing — sweeping "reciprocal" tariffs against all trading partners in early April.
In particular, the US has agreed to reduce import taxes on a set number of British cars and allow some steel and aluminium into the country tariff-free, as part of a new agreement between the US and UK.
The announcement offers relief for key UK industries from some of the new tariffs President Donald Trump has announced, however,it will leave a 10% duty in place on most goods from the UK.
Though hailed by the leaders of the two countries as significant, analysts said it did not appear to meaningfully alter the terms of trade between the countries, as they stood before the changes introduced by Trump this year.
It should be noted that no formal deal was signed on the 8th May and the announcements from both governments were light on details.
Furthermore, during the event to unveil the tariffs deal with the UK President Trump stated that the US is considering slashing its tariffs on China's goods by more than half at trade talks on the 10-11 May 2025, after President Trump's promised that the 145% rate was "coming down".
The Trump administration has set a target of lowering the rate to below 60% during the discussions in Geneva, Bloomberg reported. The dramatic cut would be a first step, made in hopes of a matching tariff reduction by China.
As top US officials, including Treasury Secretary Scott Bessent, get set to meet with Chinese counterparts this weekend, Trump has suggested he might meet with Chinese President Xi after the initial talks.
China's Vice Foreign Minister Hua Chunying also struck a confident note ahead of the talks, saying Beijing has "full confidence" in its ability to manage trade issues with the US.
Officials in both Washington and Beijing are "under growing economic pressure", Dan Wang from political risk consultancy Eurasia Group told the BBC.
"The recent signals from both sides suggest a transactional de-escalation is on the table", she added.
Related Articles:
BBC News 09/05 - US and UK agree deal slashing Trump tariffs on cars and metals
BBC News 09/05 - Trump hints tariffs on China may drop as talks set to begin
BBC News 08/05 - How US and China will approach tariffs negotiations
Reuters 09/05 - Inside China's decision to come to the table on Trump tariffs
Reuters 08/05 - US weighs plan to lower China tariffs to as low as 50%, New York Post reports
Aljazeera 09/05 - Chinese export hike reported as tariff talks with US set to start
3. New sulphur emission limits enter into effect in the Mediterranean
On 1st May 2025, the Mediterranean Sea officially became an Emission Control Area (Med SOx ECA) under MARPOL Annex VI. The sulphur content in fuel oil for ships operating in the area is now limited to 0.1%, significantly reducing air pollution and delivering major benefits to both human health and the marine environment.
Ships operating in Emission Control Areas for Sulphur Oxides and Particulate Matter, such as the Mediterranean Sea, are now subject to strict mandatory measures to prevent, reduce, and control air pollution. This new ECA must comply with stricter sulphur content limits than those set by the global standard (0.10% mass by mass (m/m), compared with 0.50% m/m allowed outside SOx ECAs).
Decreasing SOx emissions from shipping improves human health by lowering rates of lung cancer, cardiovascular disease, strokes, and childhood asthma. The environment also benefits significantly, as reduced acidification helps protect crops, forests, and aquatic species. Finally, this measure is expected to reduce haze caused by ships, increasing visibility and decreasing the risk of maritime accidents.
The Med SOx ECA is the fifth designated Emission Control Area under MARPOL Annex VI, alongside the Baltic Sea area; the North Sea area; the North American area (covering designated coastal areas off the United States and Canada); and the United States Caribbean Sea ECA (around Puerto Rico and the United States Virgin Islands). In 2024, IMO designated two further ECAs: the Canadian Arctic and the Norwegian Sea. In April 2025, MEPC 83 approved a proposal to designate the North-East Atlantic as an Emission Control Area.
Related Article:
IMO 01/05 - New sulphur emission limits enter into effect in the Mediterranean
4. US TREASURY REPORT
The US Treasury Report for all actions reported is hereby attached.
Related Article:
Attachment 3: US Treasury Report for week 03/05/2025 – 09/05/2025
5. PIRACY REPORT
The Piracy Report for all actions reported is hereby attached.
Related Article:
Attachment 4: Worldwide Threat to Shipping (WTS) Report, for the period between 09/04/2025 – 07/05/2025
Nothing important to report from Local News, the ILO and the House of Representatives.