31st January 2026 - 6th February 2026
LOCAL NEWS
1. 9th Annual Capital Link Cyprus Shipping Forum – Tuesday, 17 February 2026
The 9th Annual Capital Link Cyprus Shipping Forum will take place on Tuesday, 17 February 2026, at Columbia Plaza in Limassol, bringing together leading figures from the global maritime industry, regulators, and the international investment community. The Forum will be held under the auspices of the Republic of Cyprus and the Shipping Deputy Ministry.
Recognized as a premier industry gathering, the Forum will focus on the most pressing challenges and opportunities facing the maritime sector today. Key discussions will address decarbonization strategies, fleet renewal, evolving market dynamics, and the geopolitical developments shaping international shipping and global energy markets.
Our Union is the Lead Sponsor and main Organiser of the Forum for the 9th consecutive year, with distinguished participation from several prominent Greek and Cypriot shipowners. In addition, for another year, a panel will be allocated to major Charterers, this time from the Capesize sector, providing a unique perspective to the Limassol Conference.
Shipping Deputy Minister, Mrs Hadjimanolis, and Minister of Energy, Commerce, and Industry, Mr Damianos, will present developments in their respective fields of expertise, focusing on the latest developments in Shipping regulation and Energy Security in the Eastern Med region.
Interested parties may Register for the Forum via the link: Registration Link
The detailed Agenda of the 9th Annual Capital Link Cyprus Shipping Forum is available at: Agenda Link
Related Article:
Attachment 1: Agenda - 9th Annual Capital Link Cyprus Shipping Forum - Tuesday, February 17, 2026
2. Cyprus Shipping Deputy Minister joins ministers and international officials in a high-level debate on maritime decarbonisation
On Wednesday, 4th February 2026, Cyprus Shipping Deputy Minister Ms. Marina Hadjimanolis, departed for a working visit to Athens and Alexandria, Egypt, from 4-9 February 2026, focusing on high level maritime diplomacy and the promotion of the Cyprus Register.
During her Athens visit. Ms. Hadjimanolis participated in the Keynote Ministerial Roundtable of the «16th Annual Capital Link Greek Shipping Forum», alongside with the Minister of Maritime Affairs and Insular Policy of Greece Mr. Vassilis Kikilias, the Minister for Transport, Infrastructure and Public Works of Malta, Mr. Chris Bonett, and the Deputy Assistant Secretary for Transportation Affairs of the United States, Mr. Marco M. Sylvester. Discussions focused on decarbonisation, sustainable shipping, global trade, and the future of the seafaring workforce, highlighting the role of international cooperation, in shaping a competitive and sustainable shipping industry.
Ms. Hadjimanolis joined ministers and international officials in a high-level debate on maritime decarbonisation, where the United States set out firm objections to the Net Zero Framework (NZF) while backing the institutional role of the International Maritime Organisation (IMO).
Mr. Sylvester warned the transition risked failure without realism, technical documentation and active industry participation, clarifying that Washington’s rejection of the NZF did not amount to withdrawal from international cooperation, but argued the framework alters the character of the IMO, transforming it from a technical organisation for safety and security of navigation into a global climate policy regulator.
Washington proposed stronger state accountability, including explicit ratification of regulations by national governments so that decisions are not attributed exclusively to the IMO.Particular emphasis was also placed on industry participation, with Mr. Sylvester urging market players to state clearly what is technically and economically feasible, noting that zero-emission targets carry significant costs which first burden shipping and are ultimately passed on to consumers. In that context, excluding shipping from decision-making was described as unrealistic.
Hadjimanolis, for her part, called for realism and meaningful listening to the shipping industry, pointing out that legislation often precedes understanding of how the sector actually operates.
Greece’s maritime affairs minister Vasilis Kikilias said any new burden on shipping inevitably moves from the ship to the charterer and eventually to the consumer, noting the transition is being requested towards fuels that currently cover only a minimal share of global availability while the required infrastructure remains absent. Given that up to 90 per cent of global trade is transported by sea, Mr. Kikilias warned the decisions taken will have direct and profound effects on the cost of living and social cohesion.
Meanwhile, Malta transport minister Chris Bonett raised the issue of European unity, saying the EU must act as a single entity on such critical matters.
At the Conference, Ms Hadjimanolis also had the opportunity to refer to the achievements of the Cyprus Registry of Ships and to present the future plans for its further development.
In particular, Ms. Hadjimanolis, stated that, over the last three years, strengthening the Cyprus and further strengthening Cyprus’ position as a reliable and high-quality shipping center has been one of the Government’s main priorities. “Together with my colleagues at the Shipping Deputy Ministry, we have been working methodically, based on a specific strategic plan, to increase the competitiveness of the Cyprus Ship Registry, Ms. Hadjimanolis noted.
Within the framework of the conference, Ms. Hadjimanolis held bilateral meetings with the aforementioned Ministers and had meetings with representatives of shipping companies to further promote the Cyprus Register.
On Saturday, 7th February 2026, the Deputy Minister will travel to Alexandria, as an honourary guest of the Minister of Transport of Egypt, where she will participate as a keynote speaker at the 15th International Maritime Transport & Logistics Conference (MARLOG-15). During her stay, the Deputy Minister will hold bilateral meetings with the Egyptian Minister of Transport, as well as other participating Ministers of third countries.
Related Articles:
Washington slows full shipping decarbonisation, sends message to IMO | Cyprus Mail
Deputy Minister of Shipping visiting Athens and Alexandria
Μαρίνα Χατζημανώλη: Θέλουμε να δημιουργήσουμε ένα μεγαλύτερο Νηολόγιο για την Κύπρο - Mononews.gr
3. Foreign Minister Constantinos Kombos Holds High-Level Talks in Washington
On Wednesday, 4th February 2026, Cyprus’ Foreign Minister Constantinos Kombos held a series of high-level meetings in Washington , focusing on the US Cyprus bilateral cooperation, regional developments in the Middle East and priorities linked to Cyprus’ Presidency of the Council of the European Union.
Mr. Kombos met with several members of the US Congress discussing deepening the Cyprus–US partnership, shared transatlantic priorities and the importance of strong bipartisan engagement on Cyprus within the US Congress. In a statement, Mr. Kombos referred to the strong bipartisan congressional support for Cyprus as a strategic US partner and for initiatives that enhance security, regional stability and transatlantic cooperation.
Mr. Kombos also had an encounter with India’s External Affairs Minister, Subrahmanyam Jaishankar, whom he congratulated on the US–India trade deal and the EU–India free trade agreement, describing the outcomes as the result of effective diplomacy.
Furthermore, the Foreign Minister participated in a panel discussion at the American Enterprise Institute on “Bridging the Middle East and Europe during Cyprus’ EU Presidency”.
Mr. Kombos also participated in the Delphi Economic Forum roundtable on “The India–Middle East Corridor (IMEC) and the New Geo-Economic Order”. In his remarks, he noted that one month into Cyprus’ EU Council Presidency, the timing was appropriate to advance connectivity prospects and resilience through strategic partnerships, adding that promoting IMEC is a key element of this effort.
Furthermore, the Foreign Minister stated that Cyprus’ geographical position and its status as an EU Member State provide a unique vantage point to translate cooperation into tangible outcomes, contributing European and transatlantic value to shared prosperity through corridors of cooperation that support peace and stability.
Related Articles:
Kombos addresses Cyprus-US relations in Washington | Cyprus Mail
Kombos Holds High-Level Talks in Washington on Cyprus–US Relations
Kombos boosts Cyprus-US partnership in Washington - Sigmalive English
INTERNATIONAL NEWS
4. India-EU trade deal: The “mother of all deals”
India and the European Union signed a trade agreement on the 27th January 2026 creating the world's largest free trade zone. Labelled the “mother of all deals” by European Commission President Ursula von der Leyen, the free trade agreement aims to boost trade and investment between India and the European Union by reducing tariffs and trade barriers.
Both sides have presented the agreement as a win. India said in a press statement that almost all Indian exports will gain preferential entry into the E.U. The E.U., meanwhile, said the deal will remove or reduce tariffs on its exports of agri-food products, opening up a large market to European farmers. At the same time, it has stressed that Indian imports, coming into the E.U., must comply with strict health and food safety standards.
According to experts, the scale of the agreement is substantial. India will eliminate or reduce tariffs on 96.6% of EU exports, while the EU will do the same for 99.5% of Indian goods by trade value, however it is believed that its deeper impact lies in how it may reshape Indo-Pacific supply chains.
Beyond goods, the agreement strengthens the infrastructure that underpins supply chains themselves. Enhanced customs cooperation, data exchange mechanisms, and simplified border procedures aim to reduce friction and improve risk management. According to the EU Commission Factsheet on the main benefits of the Trade Agreement, the Agreement allows privileged and expanded access in services, particularly maritime transport and financial services and reinforces the logistics and financing networks that support global trade.
The scope of the agreement extends well beyond goods, services and investment. Plans to co-operate on clean energy aligns Europe’s Green Deal (the bloc’s framework for achieving net zero) with India’s target of producing 500 gigawatts of renewable capacity by 2030. This should open up avenues for joint leadership in solar, wind, grids and green hydrogen.
Related Articles:
Factsheet - EU-India Free Trade Agreement: Main benefits - Trade and Economic Security
India EU FTA makes big promises, but leaves key questions unresolved
Here's why the India-EU trade pact is the 'mother of all deals' | World Economic Forum
5. EU proposes 20th Russia sanctions package targeting Russian energy, financial services and trade
On Friday, 6th February 2026, the President of the European Commission Ursula von der Leyen announced the proposal of the 20th sanctions package against Russia, targeting energy, financial services, and trade.
“The Commission is putting forward a new package of sanctions, the 20th since the start of Russia's war of aggression against Ukraine. The new package of sanctions covers energy, financial services and trade,” von der Leyen announced in a written statement.
She said the measures introduce “a full maritime services ban” on Russia’s crude oil, aimed at further slashing Moscow’s energy revenues. The blanket ban would prohibit EU companies from providing any type of service, such as insurance, shipping or port access, to vessels carrying Russian crude oil. Until now, the EU has allowed such services to be offered – but only to tankers that comply with the G7 price cap, which has been in place since December 2022. In practice, the ban would mean the cap would effectively cease to apply within EU jurisdiction, as companies would be forbidden from servicing all Russian vessels without exemption, regardless of whether they sell above or below the price limit. The package adds bans on the provision of maintenance and other services for LNG tankers and icebreakers to further dent gas export projects — a move that would stop them from using European ports.
Von der Leyen said that this measure should be implemented "in coordination with like-minded partners after a decision" at the G7 level.
“We are listing 43 more vessels as part of the shadow fleet, reaching 640 in total. We also make it more difficult for Russia to acquire tankers to be used for the shadow fleet and add sweeping bans on the provision of maintenance and other services for LNG tankers and icebreakers to further dent gas export projects,” von der Leyen noted.
We are also targeting several banks in third countries involved in facilitating illegal trade in sanctioned goods,” von der Leyen added.
She said the bloc is also tightening export restrictions to Russia with new bans on goods and services, including rubber, tractors and cybersecurity services.
Additionally, the commission will introduce new import bans on metals, chemicals and critical minerals not yet under sanctions, she noted.
“We introduce further export restrictions on items and technologies used for Russia's battlefield effort, such as materials used to produce explosives. We propose a quota on ammonia to cap existing imports,” von der Leyen further said.
EU countries would need to approve the package for the measures to take effect, with the goal getting a deal over the line in time for the four-year mark of Russia’s war with Ukraine on the 24th February 2026.
The package will be presented for initial discussion in Brussels on Monday, 9th February 2026, with our Union closely following the developments on this important issue.
Related Articles:
EU proposes new sanctions to weaken Russia's oil sales, with full ban on services | Euronews
EU targets Russian energy, banks, goods and services in latest sanctions package – POLITICO
EU targets Russian energy, financial services and trade in 20th sanctions package - TRT World
EU proposes 20th Russia sanctions package - Breaking The News
EU Proposes Sweeping Sanctions On Russian Crude
Commission rolls out new Russia sanctions package after delays | Euractiv
European Commission president announces details of 20th package of Russia sanctions
EU proposes new Russia sanctions targeting energy, banking, trade | Courthouse News Service
6. Iran detains two vessels in the Gulf, threatens to board tanker
On Thursday, 5th February 2026, Iran State media reported that Iran's revolutionary guards have detained two vessels in the Gulf carrying over 1 million liters of smuggled fuel, adding that the vessels' crews comprising 15 foreigners were referred to judicial authorities.
While Iran has taken similar actions in the past as part of a crackdown on smuggling, Thursday’s seizures drew additional international attention due to the regional tensions.
The IRGC said it had been conducting intelligence monitoring and surveillance. It alleges the vessels had been operating as part of a coordinated smuggling network.
Martin Kelly, Head of Advisory at EOS Risk Group, pointed out that the seizures were not an escalation amid the recent increased tensions. “However, the timing may/may not be a coincidental reminder that Iran can and does seize ships in the Gulf and Strait of Hormuz almost uncontested,” writes Kelly.
Earlier in the week, Iranian forces approached the U.S.-flagged tanker Stena Imperative. According to a report from maritime security firm Vanguard, tanker Stena Imperative was told by Iranian forces in the Strait of Hormuz to prepare to be boarded. CENTCOM spokesman Capt. Tim Hawkins said the guided-missile destroyer USS McFaul immediately responded to the scene and escorted the ship with defensive air support from the U.S. Air Force. "The situation de-escalated as a result, and the U.S.-flagged tanker is proceeding safely," he said.
For some maritime security analysts, the Stena Imperative incident underscores rising security risk in the Strait of Hormuz.
Related Articles:
Iran detains two vessels in the Gulf carrying smuggled fuel, state media says | Reuters
Iran seizes two tankers for alleged fuel smuggling and detains crew - SAFETY4SEA
Iran's IRGC seizes two 'fuel-smuggling' vessels in Gulf | The Jerusalem Post
Iran Seizes Two More Vessels Accused of Fuel Smuggling
Iran says 2 ‘fuel smuggling’ vessels seized in Persian Gulf
Iranian gunboats threaten to board US tanker
U.S. tanker approached by Iranian gunboats in Strait of Hormuz, security firm says - CBS News
7. Divided EU urged to sink its green shipping plan
On Tuesday, 3rd February 2026, a French government official said that the EU emissions trading system (ETS) was unlikely to change without a global deal to decarbonise shipping fuels. “It is not desirable, even for recalcitrant member states, to maintain the current situation,” the official said.
However, according to the French government, a majority of EU countries are not currently willing to revise the ETS rules for ships. This strengthens the case for adopting the IMO deal, while recognising that “clear commitments must be made on how to realign the regional system with the rules that may emerge from the multilateral framework”, the French official said.
“The challenge is that we move forward in unity with all European Member States and that we have a clear vision of how this Net-Zero Framework can work with the ETS – even if it means revising the ETS slightly,” the official said. A situation must be restored in which European ports and shipowners are not put at a disadvantage compared with competitors outside the EU, the official said.
The European Union seems set to relax emissions-reduction rules for thousands of companies, recalibrating the world’s most rigorous carbon market under pressure from industry and governments concerned about the region’s competitiveness.
Before a summit of EU leaders next week on strengthening the bloc’s economy, talks are heating up on reforming the Emissions Trading System, a key tool to curb greenhouse gases.
Less than three years after tightening the market in a green push, governments are ready to slow the pace of pollution cuts and consider measures that would alleviate industry costs, according to EU policymakers and diplomats with knowledge of the issue.
The details of the planned overhaul, which will impact supply and demand in the market, are due to be unveiled by the European Commission in the third quarter of this year and are expected to trigger intense negotiations among governments.
Related Articles:
France entices 'recalcitrant' EU countries to back IMO green shipping deal | Euractiv
POLITICO Pro | Article | EU to soften emissions curbs on companies in flagship market
Divided EU urged to sink its green shipping plan amid US pressure | Euractiv
8. US TREASURY REPORT
The US Treasury Report for all actions reported is hereby attached.
Related Article:
Attachment 2: US Treasury Report for week 31/01/2026 – 06/02/2026
9. PIRACY REPORT
The Piracy Report for all actions reported is hereby attached.
Related Article:
Attachment 3: Worldwide Threat to Shipping (WTS) Report, for the period between 31 December - 28 January 2026
Nothing important to report from ECSA, ILO and the House of Representatives.