Long abstract

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The economic downturn has hit shipbuilding hard.  New orders have contracted by up to 90% and cancellations have increased, which is likely to result in significant excess shipbuilding capacity.  This outlook is unlikely to improve for some time.  There was agreement that governments should avoid actions that increase protectionism or distort the shipbuilding market, and that serious efforts should be made to restart the paused Shipbuilding Agreement negotiations.