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ABS Finds Asian Market Fruitful

The American Bureau of Shipping (ABS) reports that so far in 1995, it has experienced a significant increase in contracts in Asian shipyards for the classification of new vessels more than 10,000 dwt.

As of the end of September 1995, total vessels building or contracted to be built to ABS class in the shipyards of Japan, Korea, the Republic of China and the People's Republic of China totaled 12.1 million dwt, representing a reported market share of 27.5 percent. By country this represents: Japan, 6 million dwt; Korea, 3 million dwt; the Republic of China, 1.4 million dwt; and the People's Republic of China, 845,000 dwt. In addition, there are 43 vessels building in Singapore, and 10 vessels building in India to ABS class.

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