MA / LLM in Maritime Law and Shipping Management
Why Trade and Shipping Education? Why at Frederick?
There are numerous reasons why trade and shipping education at Frederick University bring exceptional opportunities to prospective students. Here are just some of those reasons:
- International trade offers a wealth of career opportunities at all levels of work experience. Whether you are just starting out, or looking to transfer your skills to a new field, studying international trade may be your path to an interesting and rewarding career. This is because the international trade arena:
- Is dynamic and growing;
- Spans a wide range of employing organisations and businesses;
- Involves many specialised functions and business and skills;
- Allows the interaction of people, businesses and cultures from all the over the world.
- The shipping industry has been one of Cyprus’ most successful export services, as the country enjoys the privilege of being one of the world’s largest and influential centres for ship owning and ship management services. Currently more than 5,000 shore-based personnel are employed within the Cyprus maritime cluster.
- It is estimated that approximately 5% of the world’s fleet and around 25 % of global third-party shipmanagement activities are controlled from Cyprus. Among the shipmanagement companies established and operating from the Republic of Cyprus, 87 % are controlled by Cypriot or EU interests. These companies employ more than 55,000 seafarers of whom 10 % are EU nationals.
- According to the Central bank of Cyprus, the industry contributes in total approximately 1 billion euros each year to the economy, accounting for almost 7 % of the country’s GDP. The Shipping Industry along with the energy sector is expected to be the dynamic driving force towards economic development.
- Cyprus has recently become very attractive to Greek shipowning and shipmanagement companies seeking to transfer operations in Cyprus. The share of revenue from Greece increased during the past few years.
- The geographical position at the crossroads of three continents, on the path of several major shipping routes with minimal deviation and its proximity to the Suez Canal, has long promoted many aspects of shipping in Cyprus.
- The sector is set to benefit from the privatisation of the operations of the Limassol Port. The port is set to expand by 220,000 m2 of land, its berths by an extra 500 m and its depth of water increased further; Limassol will therefore strengthen its position in regional logistics and trans shipments. The widening and deepening of the Suez Canal could also increase traffic in the region and bring more opportunities to Cyprus, in terms of trade plus associated activities such as break-bulk imports, fuel bunkering, as well as maintenance and repair.
- Cyprus boasts a robust shipping regulatory sector offering a solid tax framework and one of the widest scopes of coverage for shipping activities in Europe, through clear-cut and separate inclusions of shipowning, shipmanagement and chartering. The key challenge for the industry remains the Turkish embargo on Cyprus-flagged vessels entering its ports. There are hopes that ongoing political dialogue will lead to a settlement, which, according to recent research, would give a significant boost to the sector.
- The exploitation of hydrocarbons and the development of offshore installations provides both the Cyprus economy and its shipping industry with emerging opportunities. Through its attractive shipping infrastructure, Cyprus is well positioned to attract more quality tonnage and increasing numbers of first-rate shipping companies from around the world in the years to come.
- These significant recent developments in the business and energy sectors in Cyprus and in the Eastern Mediterranean area make our Programmes of study especially relevant. The island is fast becoming a new European hub for import and re-export activities linking Europe with the Far East in ways previously unexplored. At the same time the energy sector in Cyprus is also developing rapidly. Graduates of our Programmes will be positioned favourably in the local and international labour market for the newly created employment opportunities in business as well as in related sectors.
- Limassol is an ideal location for maritime studies due to the multipurpose port and successful maritime business community, allowing the student to gain first-hand experience of commercial marine operations.
- Frederick University graduates in Maritime Studies are exempted from a number of ICS, UK (Institute of Chartered Shipbrokers) exams.
- The EU provides Cyprus with every opportunity to promote its many advantages in a substantial and viable shipping centre to serve Cyprus, the EU and the international shipping industry through studies and research.
- The Department of Maritime Studies collaborates with a number of local trading and shipping organizations in order to provide students with practical experience as well as excellent employment prospects.
- Already, approx. 96% of our graduates are in full time employment, more than 70% within the Shipping Industry. Few shining examples are well on the way of impressive careers (see testimonials).