Japan's exports of ships in April 2025 fell by more than 30 per cent year-on-year, according to data released by the Japan Ship Exporters' Association earlier this month.
Japanese shipbuilders secured only approximately 620,000 GT in export ship orders in April, a decrease of about 32 per cent compared to around 920,000 GT in the same period last year. As of the end of April, Japanese shipbuilders’ orderbooks stood at 29.5 million GT.
The Japanese shipbuilding industry explained that many new orders were missed due to Japanese shipyards' delivery schedules being fully booked for the next few years.
Industry insiders believe that although the proportion of exported ships has declined, Japanese shipbuilders are gaining competitive advantages in high value-added fields such as environment-friendly ships. The demand for commercial ships has also expanded in response to environmental regulations and the growing logistics needs of emerging economies.
For example, Japan Marine United achieved a 5.4-fold year-on-year increase in net profit in fiscal year 2024 (March 2024 to March 2025), reaching JPY19.9 billion (US$140 million), a historical high. Its total order volume hit JPY720.2 billion yen (US$5.03 billion), also a record high.
Japanese marine engine manufacturer Mitsui E&S also said its ship propulsion system orders rose 1.4 times year-on-year to JPY212.9 billion yen (US$1.49 billion).
The Japanese Government is meanwhile trying to use the country’s shipbuilding technology as a diplomatic card in tariff negotiations with the United States, and the government has also expressed willingness to provide technical support and ship repair capabilities.