Role As A Shipping Hub
Cyprus constitutes one of the largest Ship management centers in the world; around 50 shipmanagement companies and marine-related foreign enterprises are conducting their international activities in the country while the majority of the largest ship management companies in the world have established fully fledged offices on the island. Its geographical position at the crossroads of three continents and its proximity to the Suez canal has promoted merchant shipping as an important industry for the island nation. As of 2005 Cyprus holds the 9th largest (by DWT) merchant navy in the world and the 3rd largest in the European Union.
Read more about this topic: Economy Of Cyprus
Famous quotes containing the words role, shipping and/or hub:
“The real test of a man is not how well he plays the role he has invented for himself, but how well he plays the role that destiny assigned to him.”
—Jan Patocka (1907–1977)
“Talk of a divinity in man! Look at the teamster on the highway, wending to market by day or night; does any divinity stir within him? His highest duty to fodder and water his horses! What is his destiny to him compared with the shipping interests?”
—Henry David Thoreau (1817–1862)
“There is no object so soft but it makes a hub for the wheel’d universe.”
—Walt Whitman (1819–1892)