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Cyprus: Ship management revenues increase marginally in 2nd half of 2011

Ship management revenues increased marginally to 4,9% of Cyprus GDP Ship management revenues increased marginally to 4,9% of Cyprus GDP, during the first half of 2011 despite the economic crisis.According to Ship Management Survey, released on Monday by the Central Bank of Cyprus, the majority of revenues came from Germany (57%). There were also significant contributions from Switzerland (11%) and Latvia (7%).These figures do not represent the countries of the beneficial ship owners whose ships are managed by companies based in Cyprus. They merely represent the countries from where the payments were transferred to Cyprus.Most companies in the sector generate revenues within the range of 1 million - 10 million euro, but there are a few very large companies with revenues exceeding 27 million half-yearly. As a result, the sector is relatively concentrated with 24% of the companies generating 83% of the sectors total revenues.Total ship management revenues from non resident ship owning companies for the first half of 2011 were 431 million euro, which corresponds to 4,9% of Cyprus GDP. There was a marginal increase in revenues during the first half of 2011 from 431 million to 432 million euro.Despite the economic crisis, the ship management sector continued its ...

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Revenues of Bulgarian Port Burgas Up 37 per cent in 2011

Port Burgas has seen an increase of its general cargo One of Bulgaria's three Black Sea ports, Port Burgas, saw its revenues grow by 37.5% in 2011 year-on-year, the port authority announced.Thus, in 2011, Port Burgas Jsc had total revenues of BGN 33 M, up by BGN 9 M compared with its revenues in 2010.Port Burgas's total profit before taxes amounted to BGN 8 M; in 2011, the Black Sea port processed a total of 3.5 million metric tons of cargo, which is an increase of about half a million metric tons compared with the total freight amount it got in 2010.Port Burgas has seen an increase of its general cargo by 475 000 metric tons, most of that - 291 000 tons - coming from the transportation of processed metals. The bulk of the other goods and materials that passed through Port Burgas in 2011 is made up of oil, coal, sugar, grain, fertilizers, construction materials, lumber.In 2011, the port processed 108 000 tons more in terms of container traffic than it did in 2010.The port authority said Sunday that the "good rate of work" is persisting into the new year; on January 16, for example, the port expects ...

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