London: Japan has been identified as the location for the most expensive steel repairs in shipyards across the world, according to a comparative list of steel prices complied by Alan Thorpe in his weekly Ship Repair Newsletter. The list used Singapore steel prices (approximately $2.5 per kg) as a benchmark to pinpoint Japan as being more than twice as expensive as Singapore and up to 125% more expensive than China, which offers the lowest prices. Predictably, a group of Asian countries made up of Singapore, Vietnam, the Philippines, China and Indonesia (Singaporean-owned yards) were said to offer the lowest prices. Middle Eastern yards were not far behind, with prices rising up to 5% more than the benchmark. The high end of the scale plays host to countries like America (which rated just below Japan), the Bahamas and Northern Europe. [02/02/07]
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