The year is coming to a close and for most of us it has not been a good year 2009 will go in the history books as a year of declining economic activity and increased unemployment worldwide. Shipyards are filing for bankruptcy, vessel operators are canceling orders and there are very few new projects getting funded. Fortunately, many ship builders and equipment suppliers already had healthy backlogs allowing them to continue operations at normal levels this year. But these backlogs are shrinking rapidly and the industry needs new business. Where will it come from?
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