Sinking ship manufacturers and shipping companies say they’re back in business.
That’s according to shipping experts, who say the industry is on the verge of a renaissance.
“It’s been a slow rebuild,” said Kevin McClellan, founder of the company Shipboard Research.
“I can’t imagine the industry would be where it is without the shipbuilders.”
“Shipbuilders have done everything possible to survive the economic recession,” he added.
“Shipbuilders are able to continue producing products, while companies like ours are struggling to compete in the marketplace.”
While some shipbuilders have been hurt by the downturn in the market, McClellans company, Shipboard International, was able to return to profitability.
It’s not just the U of T’s new shipbuilding plants, which ship the bulk of its orders, but the new shipyards that are doing well.
The shipping industry has seen an increase in demand as the cost of goods continues to fall, as well as a drop in the cost and size of ships that are delivered.
Shipping companies are selling to customers at a higher volume and have more inventory.
That means that companies can produce more ships and still maintain profit margins.
And the shipping industry is still growing, with more ships being built every year.
But it’s not all good news.
The recession is still being felt.
For example, the U-Haul fleet is at a record low, with some analysts expecting it to reach zero by the end of this year.
The company is also struggling with a string of costly maintenance projects, such as a new fleet of two-wheelers and a new container ship that were all ordered at a loss.
Despite all of the problems, shipping companies have seen a rise in sales.
McClllan said he expects to see more and more shipbuilders and shipping operations come back to profitability, even as the economy continues to be battered.
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