Japanese export ship-orders on the up

The February rise followed increases of 71.5 percent in December and 50.5 percent in January. The extraordinary growth figures for the latest three months compare with extremely low year-earlier levels. Ship orders had been depressed for more than a year after a sudden plunge in October 2008 due to the deep global economic downturn.

Takao Motoyama, chairman of the Shipbuilders’ Association of Japan, painted a gloomy picture of the industry at a recent press conference, citing uncertainty over whether the global economy will get back on a full-fledged recovery track. “We have to prepare ourselves for a continued slump in new shipbuilding orders for some time to come,” said Motoyama, who is also chairman of Mitsui Engineering and Shipbuilding.

In February, Japanese shipbuilders received orders for seven export ships, all bulk carriers, totalling 383,670 gross tons. Japan started providing official financial support recently to shore up slumping vessel exports through the government-affiliated Japan Bank for International Cooperation.