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Japan's shipbuilders in hot water as orders dry up

Workers at the Kure Shipyard of Japan Marine United are busy working through the company's backlog of ship orders.

TOKYO -- Japan's shipbuilding industry is headed for a slump that may prove worse than the one caused by the 2008 global financial crisis.

The country's shipyards saw new orders for export ships plunge 80% on the year during the first half of 2016, the worst decline since the autumn of 2008.

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