Japan ship orders down 63.2 percent in July
Japanese export ship orders sank for the 10th consecutive month in July on a year-on-year basis, tumbling 63.2 percent to 950,820 gross tons, according to figures released by the Japan Ship Exporters' Association.
But the pace of decline was the slowest since the nation's export ship orders suddenly started to plunge in October last year, when the global financial turmoil that had erupted the previous month began to take its toll on the real economy. Japan is one of the world's top shipbuilding nations along with South Korea and China.
In July, Japanese shipbuilders received orders for 14 export ships -- 10 bulk carriers totaling 397,920 gross tons, three oil tankers totaling 480,900 gross tons and one general cargo vessel of 72,000 gross tons. The 14 ships total 344,394 compensated gross tons.
During the January-July period of this year, Japanese shipbuilders received orders for 69 export ships totaling 3,294,570 gross tons, down a staggering 76.3 percent from the same seven-month period of last year.
Of the 69 ships, 50 are bulk carriers totaling 1,860,820 gross tons, 15 are oil tankers totaling 1,275,750 gross tons, two are general cargo vessels totaling 144,000 gross tons and the remaining two are other ships totaling 14,000 gross tons. The 69 ships total 1,499,774 compensated gross tons.
But the pace of decline was the slowest since the nation's export ship orders suddenly started to plunge in October last year, when the global financial turmoil that had erupted the previous month began to take its toll on the real economy. Japan is one of the world's top shipbuilding nations along with South Korea and China.
In July, Japanese shipbuilders received orders for 14 export ships -- 10 bulk carriers totaling 397,920 gross tons, three oil tankers totaling 480,900 gross tons and one general cargo vessel of 72,000 gross tons. The 14 ships total 344,394 compensated gross tons.
During the January-July period of this year, Japanese shipbuilders received orders for 69 export ships totaling 3,294,570 gross tons, down a staggering 76.3 percent from the same seven-month period of last year.
Of the 69 ships, 50 are bulk carriers totaling 1,860,820 gross tons, 15 are oil tankers totaling 1,275,750 gross tons, two are general cargo vessels totaling 144,000 gross tons and the remaining two are other ships totaling 14,000 gross tons. The 69 ships total 1,499,774 compensated gross tons.