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Sector profile: Asian marine - On the crest of a wave.
(From Reinsurance)
Asia has experienced far greater trade volume growth than any other regions. This has largely been driven by the rapidly growing economies of India, and in particular where merchandise trade is concerned with China.
In the assessment of the Lloyd's report New Openings: Quantifying Opportunities in Asia, which was published in March 2006, marine cargo growth in Asia is expected to be driven rapidly by expanding trade volumes and values in the region.
Surge in trade
As a consequence of the surge in trade, both ships and ports are already at full capacity. Across the region, the demand for shipbuilding has risen, ...
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