Korean Shipbuilders Are Changing Course

According to an April 12 report from The Wall Street Journal, South Korea's shipbuilders are making a big push to diversify away from their notoriously cyclical industry. New contracts won by Korean shipyards for cargo container carriers and other commercial ships plunged 81% in 2009 to 3.35 million compensated gross tons, data from Clarkson show, as the economic crisis led to canceled orders and falling ship prices.

(Source: The Wall Street Journal)