Japan’s New Ship Exports Rise 200% Amidst Slumping Export Growth

Japan Ship Exporter’s Association (JSEA) revealed that Japan’s new ship export has jumped by 200% to reach 42 ships in December 2022 compared to 16 in November 2022.

The total gross tonnage of export in this period was 1.48 million gross tons which included 2 tankers, 5 cargo ships and 35 bulk carriers.

The ship export orders fell by 23.6% in 2022 as compared to the previous year, as shipbuilders received 282 new ship orders with a gross tonnage of 11.62 million gross tons. 

In December 2022, Japan exported 6 ships totalling a tonnage of 149062 gross tons compared to 19 ships of 779790 gross tons in November 2022. The yearly ship export numbers in 2022 stand at 177 ships with 8.34 million gross tons, declining 16.1% y-o-y. 

 On the contrary, the export growth of Japan has decreased due to lower China-bound shipments. This has sparked fears about Japanese shipments’ external demand, said a Reuters report. 

In 2022, Japan experienced the biggest trade deficit since 1979 as the country’s trade deficit touched 19.97 trillion yen. 

References: Reuters, Steel Orbis

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