So far, 2009 has proved to be an interesting year. Japan was badly hit by the'Lehman shock'and major operators and shipyards have spent the past year reassessing expansion plans.rnFairplay looks at the position as recovery begins, especially the effects of a strong yen on business and exports, tight margins for shipping companies, concerns about charter defaults, newbuilding renegotiations, yard bankruptcies for Tsuji HI and Kanasashi Shipbuilding and project cancellations.
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