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    Slowdown hits global shipping industry - 18 March 2009

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    Al Jazeera English

    by Al Jazeera English

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    As the global economic crisis hammers demand, and the volume of international trade falls, the shipping industry is feeling the fallout.

    Around a third of the shipping companies could collapse this year and already almost 1,000 ships are lying idle around the world.

    Al Jazeera's Marga Ortigas reports from Subic Bay in the Philippines.