Clarksons: Japan’s Orderbook Sees Slowest Decline Rate

Image Courtesy: Japan Marine United Corporation

Amid the current muted shipbuilding market the Japanese orderbook has shown its endurance and recently surpassed its South Korean counterpart in size for the first time since 1999, according to Clarksons.

While the orderbook is shrinking for all of the Big Three builder countries, the Japanese orderbook is undergoing the slowest rate of decline. This month’s Shipbuilding Focus takes a look at the development of the Japanese orderbook.

As of start March 2017, the orderbook at Japanese yards stood at 775 ships of a combined 18.9 million CGT, the second largest globally. This was its lowest monthly level since January 2014 in CGT terms.

However, the Japanese orderbook has experienced the smallest year-on-year decline amongst the top three builder nations, 23% in CGT terms compared to a 28% and 36% decline in China and Korea, respectively.

Additionally, Japanese yards’ forward cover is currently at 2.7 years in CGT terms, surpassing 2.5 years at Chinese yards and much higher than Korean yards’ 1.5 years.

“Japanese yards are backed by a strong domestic owner base and the orderbook is becoming more diversified across the major vessel sectors, with orders for larger vessels securing a longer backlog of work,” Clarksons said.

“Whilst the fortunes of Japanese yards will depend on the changing shipbuilding environment, they currently have the second largest orderbook globally in CGT terms and in today’s tough newbuild contracting market, this appears to be relatively resilient.”

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2017 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

Indonesia Marine & Offshore Expo (IMOX) 2017

Indonesia Marine & Offshore Expo (IMOX) 2017, Batamis an international maritime and offshore industrial event that brings an international…

read more >

CWC World LNG & Gas Series: Americas Summit

Now in its 15th year, the CWC World LNG & Gas Series: Americas Summit is the longest running LNG event in the Americas region.

Bringing together the key players in the LNG & gas value chain in both the Americas region and globally, this is the perfect place to make new contacts, do deals and get essential updates on the market.

This year we return to Houston, TX once again on 20-23 June 2017 – the heart of the energy industry, making it easier than ever to access they key players in your business.

More info

read more >

TOC Europe

TOC (The Terminal Operations Conference) has long been considered best in class by container terminal operators and their suppliers…

read more >

Marine Philippines 2017

The 4th edition of PHILIPPINES MARINE 2017, SHIPBUILD PHILIPPINES 2017 and OFFSHORE PHILIPPINES 2017 is the only specialized Shipbuilding…

read more >