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 most puzzling thing about TV is the steady advance of the sponsor across the line that has always separated news from promotion, entertainment from merchandising. The advertiser has assumed the role of originator, and the performer has gradually been eased into the role of peddler.”
—E.B. (Elwyn Brooks)
“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 (18571930)
“We recognize caste in dogs because we rank ourselves by the familiar dog system, a ladderlike social arrangement wherein one individual outranks all others, the next outranks all but the first, and so on down the hierarchy. But the cat system is more like a wheel, with a high-ranking cat at the hub and the others arranged around the rim, all reluctantly acknowledging the superiority of the despot but not necessarily measuring themselves against one another.”
—Elizabeth Marshall Thomas. Strong and Sensitive Cats, Atlantic Monthly (July 1994)