Japan slumps

Newbuilding export orders placed at Japanese shipbuilders sank to a 17 year low in October due to the global credit crunch.

Newbuilding orders fell to a 17 year low in October

The orders comprised three handysize and two handymax bulkers, as well as single orders for VLCC, aframax, LNG container, panamax bulker and chip carrier tonnage.

Over 66% of the new orders placed were for delivery in FY2009, with 16.5% in FY2010 and 8.6% in FY2011 and FY2013.

Despite October’s poor showing Japan’s order backlog stands at a record high of 1,431 ships of just under 70mgt.

During October JSEA member yards delivered a total of 31 ships of 1.56mgt, of which 23 were bulkers of 1.1mgt.

JSEA members include Mitsubishi Heavy Industries, Imabari Shipbuilding, IHI Marine United, Mitsui Engineering & Shipbuilding, Universal Shipbuilding, Kawasaki Shipbuilding Corp and Sasebo Heavy Industries.

Printable version Newsletter sign up