Japan's shipbuilding industry, the world's third-biggest by tonnage for new contracts, received 50 per cent fewer orders in the first four months after a surge of business last year ahead of a regulatory change didn't repeat.
Orders fell to 2.37 million compensated gross tons from January to April from 4.75 million compensated gross tons a year earlier, the Japan Ship Exporters Association said yesterday in a statement.
Shipbuilding contracts worldwide rose to a record US$105.5 billion last year as shipping lines rushed to buy bulk carriers and oil tankers before April 1, when new rules took effect requiring thicker hulls.
Japan's yards, including Mitsubishi Heavy Industries, Mitsui Engineering & Shipbuilding Co and Imabari Shipbuilding Co, took 23 per cent of global orders last year by gross tonnage.
China overtook Japan last year to become the world's second-biggest vessel builder by new orders, driven by imports of commodities and exports of finished materials to markets in the United States and Europe, according to preliminary figures from Lloyd's World Shipbuilding Statistics. China wants to take the top spot from South Korea by 2015.
Japanese shipbuilders won contracts to build 43 ships in April, mostly bulk carriers and five car carriers, the ship association said.
Orders in compensated gross tons fell 13 per cent in April from the same month last year, the association said, without giving a reason for the decline.
Compensated gross tons are an industry measure of ship size, and the time required and materials used in production.
Orders fell to 2.37 million compensated gross tons from January to April from 4.75 million compensated gross tons a year earlier, the Japan Ship Exporters Association said yesterday in a statement.
Shipbuilding contracts worldwide rose to a record US$105.5 billion last year as shipping lines rushed to buy bulk carriers and oil tankers before April 1, when new rules took effect requiring thicker hulls.
Japan's yards, including Mitsubishi Heavy Industries, Mitsui Engineering & Shipbuilding Co and Imabari Shipbuilding Co, took 23 per cent of global orders last year by gross tonnage.
China overtook Japan last year to become the world's second-biggest vessel builder by new orders, driven by imports of commodities and exports of finished materials to markets in the United States and Europe, according to preliminary figures from Lloyd's World Shipbuilding Statistics. China wants to take the top spot from South Korea by 2015.
Japanese shipbuilders won contracts to build 43 ships in April, mostly bulk carriers and five car carriers, the ship association said.
Orders in compensated gross tons fell 13 per cent in April from the same month last year, the association said, without giving a reason for the decline.
Compensated gross tons are an industry measure of ship size, and the time required and materials used in production.