Local marine industry's output plunges 19%
Shipbuilding, offshore sectors affected by regional competition
By Ann Toh
Regional competition and a slow market took their toll on the
Singapore marine industry last year with total industry output
down by 19 per cent to $3.12 billion.
The slide was led by large declines in the shipbuilding and offshore
sectors of 52 and 46 per cent respectively.
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