Maritime and admiralty in Cyprus

Chrysses Demetriades & Co Law Office

Chrysses Demetriades & Co Law Office is ‘one of the largest and best maritime practices in Cyprus’ with resources, which ‘gives it strength and depth in the market’. Most notably, the team has substantial experience in assisting major banks and other financial institutions with the financing and refinancing of vessels; it also advises ship-owning and ship management companies on a variety of multi-jurisdictional issues. The practice is headed up by the ‘very reliable’ pairing of Marion Madella and Michael McBride. 'Up-and-coming' senior associate and ship finance specialist Nikoleta Kleovoulou is 'keen to demonstrate her responsiveness and efficiency’.

Practice head(s):

Michael McBride; Marion Madella

Testimonials

‘The team has exceptional knowledge, experience, and an excellent service.’ 

‘Marion Madella and Michael McBride are very reliable, and have the knowledge and experience to provide top-notch advice and solutions.’ 

‘Chrysses Demetriades is one of the largest and best maritime practices in Cyprus. Their resources are broad and give them strength and depth in the market. An experienced and responsive law firm.’ 

‘Marion Madella is very experienced in bank-led ship finance; Nikoleta Kleovoulou is up-and-coming in the ship finance department, and is keen to demonstrate her responsiveness and efficiency.’

‘Yiannis Christodoulou is a first class marine litigation and admiralty lawyer.’

Elias Neocleous & Co LLC

Led by the ‘approachable, very experienced and efficientCostas Stamatiou, the team at Elias Neocleous & Co LLC specialises in shipping litigation and admiralty proceedings including actions relating to the arrest of ships and cargo. The group has 'extensive expertise and experience' and its ‘main strengths are its businesslike advice, attention to client service, specialisation and dedication’. Main areas of expertise include acquisitions, financings, tax planning work, shipping company incorporations and ship registrations. Clients include a range of shipping companies, as well as a number of high-profile Russian, Western European, US and Asian banks. Associate Andreas Christofides, who is a key practitioner in this area, is ‘very knowledgeable, hardworking, and practical’.

Practice head(s):

Costas Stamatiou

Testimonials

‘The firm’s service and advice are first-class in every area. Their main strengths are its businesslike advice, its attention to client service, and its specialisation and dedication. Their people are accessible and helpful. They meet deadlines and they keep us informed of progress. They give us practical, constructive advice that solves our problems.’ 

‘Andreas Christofides and Costas Stamatiou are at the top of their profession; they are experts and very helpful. Stamatiou is approachable, very experienced and efficient. Christofides is very knowledgeable, hardworking, and practical. They are both entirely reliable.’ 

‘The firm has extensive expertise and experience in maritime law.’ 

Key clients

KKCG

Sheerwater

Limassol Marina

Aphentrica Marine Insurance

Franman (Cyprus) Limited

ISD Dunaferr

Thomas Cook

BW Shipping

Argo Coral Maritime Limited

Western Maritime

Lloyds of London

Work highlights

  • Advised Shearwater Geoervices Holding on the Cyprus aspects of its acquisition of the marine seismic acquisition assets and operations of WesternGeco, the geophysical services product line of Schlumberger.
  • Advised Thomas Cook on its investment in a joint venture to purchase tour operator Biblio Globus.
  • Advising Limassol Marina on a regular basis on shipping matters including ship arrests at the marina, and acting in disputes with yacht owners and charterers.

Christodoulos G. Vassiliades & Co. LLC

Christodoulos G. Vassiliades & Co. LLC fields a team, which provides a diverse range of advice to ship owners and ship management companies. Notable areas of expertise include vessel purchases and registrations, finance work and charter agreements; it also has considerable experience in yacht registrations in different jurisdictions. The names to note in this space are managing director Christodoulos G. Vassiliades and three advocates; Maria Alexandrou, Stelios Havatzias and Eleni Marinaki.

Practice head(s):

Maria Alexandrou; Eleni Marinaki; Stelios Havatzias

Work highlights

  • Advised on changing a yacht’s registration from private to commercial ownership.
  • Advised on VAT leasing issues and the EU importation of a large yacht, which included registering it permanently in Cyprus under a VAT ruling that allowed for a lower VAT rate due to the leasing of the yacht to a company for a period of 12 months.
  • Advised and supported the complicated registration of a yacht in Belize.

Michael Kyprianou & Co. LLC

Michael Kyprianou & Co. LLC demonstrates ‘in-depth knowledge of Cypriot maritime law and vessel registrations’. Clients span ship owners, charterers, insurers, banks, oil and gas companies, and offshore contractors worldwide. The group assists with a range of matters including commercial contractual issues, disputes, ship finance work, maritime regulations and compliance policy advice; the team also advises on vessel registration mandates in various jurisdictions and cross-border asset recovery work. Maritime law specialist Gina Panayiotou is ‘the personification of target-oriented’ and was recruited to lead the practice from her prior in-house position.

Practice head(s):

Gina Panayiotou

Testimonials

‘The team is very flexible, communicative and helpful. Working on a transaction with it was a pleasure.’

‘In-depth knowledge of Cypriot maritime law and vessel registration.’

‘Gina Panayiotou is very experienced in ship registration and is able to guide you painlessly through the process.’

‘Menelaos Kyprianou is by far the best lawyer in Cyprus. His endless knowledge, his kind character, and his efficient decision-making provides the client with adequate security to trust even his/her life to Menelaos. Gina Panayiotou is the personification of target-oriented. She is well-focused on the case at hand, making it impossible for her to miss even the slightest detail.’

Key clients

DP World Limassol

SMT Shipping Group

CMS Shipping Group

Work highlights

  • Assisted a client with a transfer of vessel ownership and restructuring arrangements to accommodate a tender process.
  • Advised ABN AMRO Bank on shipping financing for Eureka Shipping Group.

Montanios & Montanios LLC

Montanios & Montanios LLC remains active in the shipping arena and advises its clients on tax and corporate issues relating to the purchase of vessels; it also handles ship financing matters. Chairman Eric Montanios is a key contact.