But EDB confident transport sector will bounce back this year
By Beth Jinks
(SINGAPORE) Singapore's marine and aerospace industries both suffered contractions in 2003, while competition toughened for logistics business, but the Economic Development Board (EDB) remains confident that growth will be achieved across the board this year.
The resilient local marine and offshore engineering industry saw its total output drop 12.5 per cent to $5.028 billion, while employment fell 6.3 per cent to 36,829 jobs - blamed partially on the Sars outbreak, but predominantly on high freight rates which prompted delays in vessel repair docking
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