Every year, up to 0.3 million tonnes of waste from the European shipping industry is not properly delivered at ports. Most of the waste produced by the shipping industry is plastic waste, putting plastics at the forefront of the shipping industry’s waste management efforts. In an increasingly connected global economy, concerted actions that encourage and incentivise waste minimisation and waste management optimisation are essential for the reduction of marine litter and the achievement of a circular economy within the shipping industry. Cyprus, an important flag state, can take a leadership role towards this direction. This article presents the results of the implementation of the DeCyDe-4-Shipping decision-support participatory method in Cyprus, which allowed effective multi-stakeholder interactions and resulted in the identification of actions for waste minimisation and waste management optimization that are relevant, effective, implementable, and stem from stakeholder consensus. The method resulted in the definition of yearly action plans with prioritized actions and provided the tools through which to monitor the industry’s annual progress. As the shipping industry is dependent on a global supply chain, DeCyDe-4-Shipping could be replicated at a wider geographic scale, starting with Mediterranean ports, to ensure consistent industry progress towards waste minimization and waste management optimization.