Singapore's marine and offshore business up 33 per cent

The total output for Singapore's marine and offshore industry surged 33 percent to reach S$13.05 billion (US$9.55 billion) in 2007, compared with S$9.8 billion (US$7.11 billion) in 2006.

This result was the fourth consecutive year of growth, from 2003's base of S$3.79 billion (US$2.75). In 2007, ship repair and conversion revenue increased by 28 per cent to S$6.26 billion (US$4.54 billion), while offshore increased by 53 per cent to S$4.95 billion (US$3.59 billion), and shipbuilding was up ten per cent to S$1.82 billion (US$ 1.31 billion).
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