LOW OIL PRICES BOLSTER SINGAPORE TANKER RETROFIT BUSINESS

Continued low oil prices have helped spawn a booming tanker retrofit business in Singapore. Marine repair and maintenance in the island nation, home to one of the world's busiest, biggest ports, logged revenues of $875 million in 1991, mostly for oil tanker retrofits, OPEC News Agency (Opecna) reports. Singapore yards repair or refurbish about 1,000 vessels/year.

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