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    Turnover sharply down at Singapore yards

    News // June 1, 2001
    The Association of Singapore Marine Industries (ASMI) says turnover in the marine industry in Singapore fell by 11.5 per cent last year, mainly due to competition from yards in China and the Middle East.

    According to ASMI a weak ship repair market and low level of newbuilding activity led to turnover of S$2.76 billion compared to $3.12 billion in 1999.

    The ASMI did note, however, that Singapore remains one of the leading centres for work on Floating Production, Storage and Offloading (FPSO) vessels and Floating Storage & Offloading (FSO) vessels.

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