Breaking up is hard to do, but a sure money maker
By WANG XIAOTIAN | China Daily | Updated: 2010-04-08 08:01
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A worker cuts up pieces of the MSC Napoli cargo ship in a dry dock in Belfast, Northern Ireland. Global shipyard capacity is set to increase by 161 percent from 26 million tons in 2005 to 68 million tons in 2011. Paul McErlane / Bloomberg News |
BEIJING - As the shipbuilding industry struggles to recover from the global recession, China's ship scrapping business has become a smorgasbord for both factories and investors.
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