Japanese export ship orders fell for the fourth straight month in August on a year-over-year basis, plunging 74.4 percent to 346,300 gross tons, according to the Japan Ship Exporters’ Association.
The year-over-year pace of decline was the sharpest in 23 months. In August, Japanese shipbuilders received orders for nine export ships, all of which are bulk carriers. The nine ships total 158,613 compensated gross tons.
Japan, one of the world’s top shipbuilding nations along with South Korea and China, started providing official financial support in early 2010 through the government-affiliated Japan Bank for International Cooperation to shore up slumping vessel exports.
In September, JBIC signed two loan agreements worth a total of 184 million to support the export of vessels built at Japanese shipyards to foreign shipping firms.
Of the $184 million, which were co-financed with private lenders, $62 million is to finance Turkey’s YA-SA Shipping Industry and Trading S.A.’s purchase of two 83,000 deadweight ton bulk carriers. The remaining $122 million will finance South Korea’s Hanjin Shipping’s purchase of four 82,100 dwt bulk carriers.
Japanese export ship orders in the first eight months of this year dropped 23 percent from a year earlier to 5,891,292 gross tons. Japanese shipbuilders received orders for 142 export ships — 131 bulk carriers, five tankers, four general cargo vessels and two marine resource research vessels — between January and August. The 142 ships total 2,690,124 compensated gross tons.
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