Strong yen sees owners desert Japanese yards
Another traditionally staunchly patriotic Japanese owner has ditched domestic yards for overseas in its latest expansion plan. Japan's NS United Kaiun Kaisha decided to place newbuilding order for 2 2 13,000-dwt single decker coastal cargo vesselx at Chinese shipyard Huanghai Shipbuilding. The ships will be delivered in 2013 from the Shandong yard, Seatrade Asia online reports. Many Japanese owners are eyeing orders overseas as the yen remains extraordinarily strong to the US dollar, hovering around the 77 mark today.