Japan Suffers Major Ship Export Loss
The Japan Ship Exporters Association Statistics for New Export Ship Orders have released the official data for the new ship orders placed in July, 2016.
Comparatively with the same period of 2015 there has been a significant drop in orders, with only eight ships ordered in the entire month.
The ships ordered in July, 2016 totalled at two handysize bulk carriers, three handymax bulk carriers, one post-panamax bulk carrier, one capesize bulk carrier and one tanker, the gross tonnage being 303,299.
June, 2016 had much less with only four orders for the whole month with a gross tonnage of 162,700. May was also low, with only eight orders, which was gross tonnage of 290,400.
In July, 2015, there were 25 orders for ships, with a gross tonnage of more than 1.44 million and 98 in June, 2015 with a gross tonnage of more than 4.67 million.
With these results comes recent news that South Korean company Daewoo Shipbuilding and Marine Engineering (DSME) had announced that it also suffered major losses in Q2.
The South Korean President addressed the decline in the shipbuilding industry and said that it must modernise to survive the downturn.