Japanese shipyards recover with 300pc more orders in January

Ship orders for Japanese yards have more than tripled in January year on year and with gains of 218.5 per cent averaged over 14 consecutive months to 1.5 million gross tons, according to the Japan Ship Exporters Association.

This is an increase over the December's 162.1 per cent increase in orders, reports Newark's Journal of Commerce, adding that in January, Japanese shipbuilders received orders for 28 export ships - 25 bulkers and three oil tankers.

From April to December 31, Japanese export ship orders came to 10.9 million gross tons, up 116.2 per cent from the same period of the previous fiscal year.

Shipbuilders' Association of Japan chairman Takao Motoyama was cautious despite the good news. "If the strength of the yen continues, Japan will lag behind South Korea and China in terms of price competitiveness," he said.
Source: Hong Kong Trade Development Council