FML will ‘manage 50 ships from Cyprus’

Speaking at this year’s Cyprus Investment Promotion Agency International Investment Awards, Sunil Kapoor, director and general manager of shipmanager Fleet Management Ltd (FML) predicted the company would be managing more than 50 ships out of its Nicosia office within two years. Today it has 35 vessels under management.

Cyprus’ position at the crossroads of Europe, Africa and the Middle East made it ‘the ideal location to cater to a diversified market of shipowners,’ he said.

FML, now part of the Caravel Group, opened its Nicosia office in 2007. The FML group is the fourth largest third-party ship manager in the world, with more than 350 vessels under its supervision.