Japanese export ship orders up 9.4pc after 17 months of slowing growth

[shhxyy]

JAPAN's shipbuilders posted a 9.4 per cent increase in export ship orders, totalling

912,142 gross tons, according to figures released by the Japan Ship Exporters'

Association (JSEA).

While year-on-year growth slowed over three months after a 218.5 per cent increase in

January, 35.4 per cent in February and 10.9 per cent in March, April was the 17th

straight month of gains, reported the Journal of Commerce, adding that shipbuilders

received orders for 18 bulk carriers and four general cargo vessels.

Japan still rivals Korea and China in shipbuilding, though its export ship orders

started a steady decline in October 2008 with the global downturn. The government

provided the yards export financing in early 2010 through the semi-state Japan Bank for

International Cooperation.

"The global economy is on a recovery track fundamentally," said Shipbuilders Association

of Japan chairman Takao Motoyama, also chairman of Mitsui Engineering and Shipbuilding

Co. "Barring an extreme appreciation of the yen, I think we will be able to secure as

much export ship orders this year as we did last."

Japanese shipbuilders received orders for 271 export vessels - 251 bulk carriers, 10

general cargo vessels and 10 oil tankers - in 2010. The 271 ships total 4,982,409 gross

tons.