Analyst Sung Ki-Jong at KDB Daewoo Securities of Korea said that a weak yen effect did not appear as global shipbuilding market saw an uptrend in newbuilding contracts in the year to May.
He explained, “According to Clarkson, newbuilding order contracts during the first five months of this year increased by 70.0% comparing with the same period a year ago,” and added, “By country, Korea and China are seizing global market, each accounting for 36.2% and 43.0%.”
Highly expected with a weak yen effect, Japan took only 13.8% of the market share and new orders even declined by 32.2% from a year ago.  
Moreover, rising newbuilding prices is seen to spread from several small and medium sized vessel types to larger ones, he said.