Shipbuilders concentrating on repairs to stay afloat

Exim News Service reported that shipbuilding companies in the country which are in the doldrums now because of the global economic meltdown that has whittled down orders for new buildings have begun to focus on repairs in a big way. Since new building orders for bigger ships are drying up, major players are accepting orders for smaller vessels which they shunned earlier. This trend is expected to hurt smaller players who will find it vital to service repairs even though it’s a whole new ballgame.