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The long-term benefits from shipping are not adequately represented by the amount of revenue it generates for Cyprus. Shipping also provides high quality employment. Modern ships are technically very complex. Operating a company with even one ship nowadays requires a high level of technical, commercial and administrative skills.
The presence in Cyprus of many of the world's most reputable shipping companies is important source of transfer of knowledge and skills, which improves the Cypriot stock of human capital. In the survey which was conducted by the Cyprus Shipping Council, it was found that more than 70% of the respondent companies regularly train their staff either through in-house programmes or at seminars run by outside agencies. Each respondent shipmanagement company spent on average, close to CYP 22,000 in 1994 for the training of its staff. almost half of these companies also used Cyprus as a base for the training of staff from their offices in other countries. One of the companies also operates in Cyprus a fully-fledged training school for seafarers.
Shipping companies members of the Council also participate in a programme for the training of young employees for the purpose of gaining membership of the London-based Institute of Chartered Shipbrokers.
The cost of the programme which is now in its third year is fully borne by the companies. These and other members of the Council also provide, every summer, placement on their ships to second-year marine engineering students of The Higher Technical Institute in Nicosia.
The placement which usually lasts for about three months affords the students valuable hands-on experience on a working ship.
Shipping companies are at the forefront of the world-wide drive to implement quality assurance schemes. These schemes involve people at all levels within companies. Cypriot shipping companies are no exception to that world-wide drive and they have already started preparing their staff for adoption of quality and safety management programmes. This transfer of know-how which is not measured by official statistics is widely acknowledged in the industry to be essential for any company's long-term competitiveness.
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