Cyprus Merchant Marine
Encyclopedia
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 of Cyprus
. As of 2005 Cyprus holds the 9th largest (by DWT
) merchant navy in the world and the 3rd largest in the European Union
.
) plus evidence of ancient ports (eg Amathus
) give proof to the fact that Cyprus was a major sea faring player in antiquity and located along important trade routes.
, but since the Turkish invasion of 1974 this port has been occupied by Turkish forces and is currently declared illegal. Most business has since been transferred to Limassol Port
and to a lesser extent Larnaca Port.
Shipping makes up approximately 2% of the GDP with an overall contribution in the of CYP£170 million (1999). 3,500 people are employed in the industry, representing 2% of the total gainfully employed population. The total revenue of Cyprus Maritime Administration for the year 2003 was around CYP£5.3 million which mainly consists of tonnage tax from ship owning and ship management companies, registration fees and issue of shipping documents.
Suez Canal
The Suez Canal , also known by the nickname "The Highway to India", is an artificial sea-level waterway in Egypt, connecting the Mediterranean Sea and the Red Sea. Opened in November 1869 after 10 years of construction work, it allows water transportation between Europe and Asia without navigation...
has promoted merchant shipping as an important industry for the island nation of Cyprus
Cyprus
Cyprus , officially the Republic of Cyprus , is a Eurasian island country, member of the European Union, in the Eastern Mediterranean, east of Greece, south of Turkey, west of Syria and north of Egypt. It is the third largest island in the Mediterranean Sea.The earliest known human activity on the...
. As of 2005 Cyprus holds the 9th largest (by DWT
Deadweight tonnage
Deadweight tonnage is a measure of how much weight a ship is carrying or can safely carry. It is the sum of the weights of cargo, fuel, fresh water, ballast water, provisions, passengers, and crew...
) merchant navy in the world and the 3rd largest in the European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
.
Ancient History
Merchant shipping has long been of great importance to the island, with its roots stretching well back into antiquity. Examples of shipwrecks discovered off the island’s coast (eg the Kyrenia shipKyrenia ship
The Kyrenia ship is the wreck of a 4th century BC Greek merchant ship. It was discovered by Greek-Cypriot diving instructor Andreas Cariolou in November 1965 during a storm. Having lost the exact position Cariolou carried out more than 200 dives until he re-discovered the wreck in 1967 close to...
) plus evidence of ancient ports (eg Amathus
Amathus
Amathus was one of the most ancient royal cities of Cyprus, on the southern coast in front of Agios Tychonas, about 24 miles west of Larnaca and 6 miles east of Limassol...
) give proof to the fact that Cyprus was a major sea faring player in antiquity and located along important trade routes.
Modern history
Merchant shipping has been actively developed by successive governments since the independence of Cyprus from British rule in 1960 and has since experienced sustained growth. The first shipping hub was created in the port of FamagustaFamagusta
Famagusta is a city on the east coast of Cyprus and is capital of the Famagusta District. It is located east of Nicosia, and possesses the deepest harbour of the island.-Name:...
, but since the Turkish invasion of 1974 this port has been occupied by Turkish forces and is currently declared illegal. Most business has since been transferred to Limassol Port
Limassol Port
-Limassol New Port:Geographical Location: .Although a title held by Famagusta Port for centuries, Limassol Port has now become the principal seaport in Cyprus. This was largely a direct result of the Turkish invasion of Cyprus in 1974 leaving the port of Famagusta within occupied territory and...
and to a lesser extent Larnaca Port.
Shipping makes up approximately 2% of the GDP with an overall contribution in the of CYP£170 million (1999). 3,500 people are employed in the industry, representing 2% of the total gainfully employed population. The total revenue of Cyprus Maritime Administration for the year 2003 was around CYP£5.3 million which mainly consists of tonnage tax from ship owning and ship management companies, registration fees and issue of shipping documents.