Although there is still a lot of ground to be made up after the decline that set in three years ago, when the European Commission started investigating the country's previous tax-lease scheme, Spain's shipyards have again begun to assert themselves in the export market. The new and approved tax-lease facility has already had a beneficial impact in 2014, and is expected to bring a number of further projects to the contractual stage before the year is out, involving the smaller types of vessel in which Spanish shipbuilding is expert.
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