Japan’s Oct new ship orders drop 12%, no recovery in sight

Japan’s ship plate consumption may decline further, as the new orders received by the Japanese shipbuilders in October fell further, down 21.7% on month or 11.9% lower on year to 735,450 gross tonnes or in 14 vessels, according to new data released by the Japan Ship Exporters’ Association (JSEA) on November 11.

The October orders fell on month again after the on-month gains over August-September, which dashed the market hope again, Mysteel Global noted. “We had hoped the rise in previous two months had been the beginning of a recovery, but it seems to have just been short-lived gains, and the country’s vessel contracting volume has