Japanese shipbuilding industry does not seem to pass through its depression in newbuilding order.
According to report from Japan Ship Exporter’s Association, export ship newbuilding contract in August decreased by 74.4% to 346,300 GT of nine vessels from the same month last year.
Strong yen worsens Japan to continue abrupt downtrend from May. Yen denominated newbuilding contract during previous month turned out to be zero for the first time since February 1993.
South Korea and China, having showed favorable turn, also seem to take a short break in new order during the same period. Financial crisis in Europe and worldly depressed shipping market have effects on currently slow shipbuilding market.