Japanese ship orders up 9.4 percent in April

Japanese export ship orders rose for the 17th consecutive month in April year-over-year, increasing 9.4 percent to 912,142 gross tons, according to figures released by the Japan Ship Exporters’ Association (JSEA), Journal of Commerce reports.But the year-over-year pace of growth slowed for three months in a row, posting 218.5 percent in January, to 35.4 percent in February and 10.9 percent in March.


In April, Japanese shipbuilders received orders for 22 export ships –- 18 bulk carriers and four general cargo vessels. The 22 ships total 447,993 compensated gross tons.


Japan is one of the world’s top shipbuilding nations along with South Korea and China. Japan’s export ship orders suddenly started to plunge in October 2008 due to the deep global economic downturn triggered by the financial crisis that erupted in the U.S. the previous month.


Japan started providing official financial support in early 2010 to shore up slumping vessel exports through the government-affiliated Japan Bank for International Cooperation, one of the world’s biggest international financial institutions.


Japan is still struggling to recover from the devastating earthquake and tsunami that hit the northeastern part of the country on March 11.


Although some small shipyards in the disaster-hit areas were affected, major Japanese shipyards that build large vessels for exports are concentrated in western Japan and remain intact.


“The global economy is on a recovery track fundamentally,” said Takao Motoyama, chairman of the Shipbuilders’ Association of Japan, speaking at a recent press conference.


“Barring an extreme appreciation of the yen, I think we will be able to secure as much export ship orders this year as we did last year,” said Motoyama, who is also chairman of Mitsui Engineering and Shipbuilding Co.


In 2010, Japanese export ship orders totaled 11,153,401 gross tons, up 95.3 percent from the pervious year.


Japanese shipbuilders received orders for 271 export vessels –- 251 bulk carriers, 10 general cargo vessels and 10 oil tankers -- in 2010. The 271 ships total 4,982,409 compensated gross tons.
(Source:http://en.portnews.ru)