The Cyprus Shipping Chamber (CSC), acting under its capacity as an employers' association, signed the renewal of the Cyprus Collective Bargaining Agreement for Seafarers employed on Cyprus flag ships, with the two Cyprus seafarers trade unions, SEK and PEO, on Friday.

A statement from the Chamber said the agreement was also co-signed by the Cyprus Employers and Industrialists Federation (OEB).

It is added that the renewed Collective Bargaining Agreement, which was signed for the next two years (1 January 2024 - 31 December 2025), "reflects the internationally accepted labour minimum standards, especially in terms of seafarers’ wages."

It is also noted that the successful renewal of the Collective Bargaining Agreement is a testament to the collaborative efforts and strong maritime labour relations of all involved parties in Cyprus and that this commitment to dialogue and cooperation reflects the industry’s dedication to maintain a sustainable and supportive environment for seafarers, while creating very promising prospects for the further development of the Cyprus Shipping Industry and the Cyprus Flag, as well by extension, to the significant financial contribution of Cyprus Shipping at large to the Cyprus economy.