Maritime Authority of the Cayman Islands: A Retrospective by Peter Polack
- Expenses has risen from $5.142 in 2015 to $8.681M in 2014 an increase of almost 100%
- MACI made losses in 7 of the 9 years of operations or 78% of annual operations.
- MACI made losses in 7 of 9 years of $1.39M
- MACI made profits in 2 of 9 years of $1.26M
- MACI made net losses of $130,000 after 9 years of operation 2005-2014
- The vast majority of Cayman registered vessels do not provide employment of Caymanians but merely facilitate economic objectives of ship owners.
- The vast majority of Cayman registered vessels do not operate from the Cayman Islands and contribute to our economy by purchase of goods and services.
Published February 26, 2018
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