Slowdown in decline of Japan export ship orders

Japanese export ship orders declined for the 13th consecutive month in October on a year-on-year basis, tumbling 37.3% to 358,300 gt, according to figures released by the Japan Ship Exporters’ Association.

But the year-on-year pace of decline in October more than halved from 75.5% in September and was the slowest since the nation’s export ship orders suddenly started to plunge in October last year due to the global economic downturn triggered.

In October, Japanese shipbuilders received orders for five export ships, three bulk carriers totalling 92,100 gt, one general cargo vessel of 105,900 gt and one oil tanker of 160,300 gt. The five ships total 141,140 cgt.

Since October last year, ship orders have declined at least 63% each month, with the steepest drop in November last year, when orders fell off 91% from the prior year.