Japan newbuilding export orders plummet

Japan received orders for export ships totalling 274,970 cgt in December, down 91.1% from the same month a year ago according to figures released by the Japan Ship Exporters? Association. It is the third consecutive monthly decline in export gross tonnage for Japan. The decline follows export orders that fell 83.9% in October and 79.7% in November after rising 10.4% in September. The continued sharp fall was blamed on ship owners? flagging demand for new vessels amid the global economic downturn.

Japanese builders received orders for only six export ships in December, i.e. five bulk carriers and an oil tanker. In 2008, Japanese booked export orders for 432 vessels comprising 364 bulk carriers, 48 oil tankers and 20 general cargo vessels, totalling 19.4 million cgt, down 21.4% from the previous year.