Japan ship orders sink

Japan received orders for export ships totaling 274,970 gross tons in December, down 91.1 percent from the same month a year ago, according to figures released by the Japan Ship Exporters’ Association. It is the third consecutive monthly decline in export gross tonnage for Japan, with South Korea and China one of the world's top shipbuilders. The decline follows export orders that fell 83.9 percent in October and 79.7 percent in November after rising 10.4 percent in September. The continued sharp fall was blamed on ship owners’ flagging demand for new vessels amid the global economic downturn.
Japanese builders received orders for only six export ships in December -- for five bulk carriers and an oil tanker.
In 2008, Japanese booked export orders for 432 vessels -- 364 bulk carriers, 48 oil tankers and 20 general cargo vessels -- totaling 19.4 million gross tons, off 21.4 percent from the previous year.