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Japan’s June new ship orders decline 52% on year

Unhappily for steelmakers, heavy plate consumption among Japan’s shipbuilders seems certain to decline further as the yards adjust building programmes to cope with the continuing slump in new vessel orders, Mysteel Global notes. Total orders received by the Japanese builders in June tumbled by 52% on year to the equivalent of 342,200 gross tonnes in eight vessels and made for the fifth consecutive month of on-year declines, according to new data released by the Japan Ship Exporters’ Association (JSEA) on July 10.
True, the total tonnage of new orders won in June was up by 12.5% from May, but the rise was still very too low to lift the backlog orders the shipbuilders have, a JSEA official observed. The association groups together 22 Japanese shipbuilders and ten trading companies.About 90% of the vessels built in Japan

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