Explosive growth of new ship orders in Japan

2022-07-26
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Explosive growth in new ship orders in Japan

with the depreciation of the yen, the new orders of Japanese shipyards, mainly bulk carriers, have shown explosive growth recently. Taking advantage of the historic low cost, international shipowners actively implemented new building investment projects in Japanese shipyards in order to order low-cost ships with low fuel consumption. In the case of the depreciation of the Japanese yen, Japanese shipyards have recently placed new orders mainly for bulk carriers and protected internal parts and components and original devices; The quantity of the products increased explosively. Taking advantage of the historic low cost, international shipowners actively implemented new building investment projects in Japanese shipyards in order to order low-cost ships with low fuel consumption

in March, the Japanese shipyards signed 49 new building contracts for export ships, which is much higher than the five new building contracts signed in February. Following the global financial crisis, Japan had the largest number of orders on a monthly basis in March, especially among the 49 ships that received orders during this period, 35 were from foreign owners. In March, only 2% of the orders of the Japanese industry were signed in Japanese yen, and the remaining 9 major equipment of most enterprises were still in existence to ensure a certain profit margin. The planned inspection was adopted, and 8% of the contracts were signed in foreign exchange (US dollars)

in terms of various ship types, bulk carriers account for the largest number of 46, namely, 17 Cape of good hope ships, 16 big portable ships, 8 Panamax ships and 5 small portable ships. Compared with this, the orders in February included 3 big portable ships, 1 super Panamax ship, 1 small portable ship, etc., and the contracts based on US dollars accounted for 79%

under the recent trend of yen depreciation, Japanese shipyards have significantly narrowed the price gap compared with Chinese shipyards, and their price competitiveness has been greatly improved. On the contrary, the rising exchange rate of the RMB against the US dollar has greatly reduced the profitability of Chinese shipyards. In view of this, international shipowners are willing to order high-quality ships in Japanese shipyards, and these ships can later be sold to other shipowners at high prices

in 2011, Japanese shipyards quoted 37million to 38million US dollars for super handy ships, while China quoted 31million US dollars. However, in the case of falling ship prices and depreciation of the yen, the price of similar ships quoted by Japan is US $27million to US $28million, and that of China is US $25million to US $26million

in addition, under the projects implemented by Japanese policy financial institutions, the Japanese industry has obtained the ship finance with the maximum ship price of 80% and the minimum interest of 1%, which has greatly helped Japanese shipyards. However, according to the judgment of the Japanese shipbuilding industry, the overcapacity in the global shipbuilding market is still serious, and the number of new orders is still a new low in history. Therefore, it is too early to judge the recovery of Japanese shipyards only by the depreciation of the yen

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