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Japanese shipbuilding market continues to pick up: Tsuneishi

Japanese shipbuilding market continues to pick up: Tsuneishi
Japan’s shipbuilding business is continuing to pick up in view of the weakened Japanese yen and decline in newbuilding prices, according to Tsuneishi Group.

The privately-owned group, which owns Tsuneishi Shipbuilding, noted that there has been a “heightened desire in the market for placing orders for new ships, arising from the fact that the shipping market and ship price seemed to have bottomed out from the effects of the weak yen.”

But Tsuneishi cautioned that the tonnage oversupply situation has not been resolved, resulting in a continued slow market.

Tsuneishi, meanwhile, reported that revenue at its shipbuilding operations has increased by 3.6% year-on-year to JPY223.6bn ($1.9bn) for the year ended 31 December 2014.

Revenue at its shipping operations also rose by 30.5% year-on-year to JPY43.6bn.

The shipping and shipbuilding operations are the core businesses of Tsuneishi, which also runs environment/energy and service operations.

Last year, the shipbuilder built 55 ships, an increase of four ships from the previous year. “We also received 57 orders for new ships during 2014, although this was below the 63 orders that were received during 2013,” Tsuneishi said.

TAGS: Shipyards