Rijeka is the principal seaport and the third-largest city in Croatia (after Zagreb and Split). It is located on Kvarner Bay, an inlet of the Adriatic Sea and has a population of 128,624 inhabitants (2011). The metropolitan area, which includes adjacent towns and municipalities, has a population of more than 240,000. Historically, because of its strategic position and its excellent deep-water port, the city was fiercely contested, especially among Italy, Hungary (serving as the Kingdom of Hungary's largest and most important port), and Croatia, changing hands and demographics many times over centuries. The city's economy largely depends on ship building (shipyards "3rd May" and "Viktor Lenac Shipyard") and maritime transport. The Rijeka Carnival is held each year through February.