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 trouble is that the expression ‘material thing’ is functioning already, from the very beginning, simply as a foil for ‘sense-datum’; it is not here given, and is never given, any other role to play, and apart from this consideration it would surely never have occurred to anybody to try to represent as some single kind of things the things which the ordinary man says that he ‘perceives.’”
—J.L. (John Langshaw)
“I need not tell you of the inadequacy of the American shipping marine on the Pacific Coast.... For this reason it seems to me that there is no subject to which Congress can better devote its attention in the coming session than the passage of a bill which shall encourage our merchant marine in such a way as to establish American lines directly between New York and the eastern ports and South American ports, and both our Pacific Coast ports and the Orient and the Philippines.”
—William Howard Taft (1857–1930)
“There is no object so soft but it makes a hub for the wheel’d universe.”
—Walt Whitman (1819–1892)