Big in Japan

摘要

With a global newbuilding market in free-fall, Japanese shipbuilders seem to have been hit from all sides.rnNot only have they had to deal with a 32.2% deficit on new contracts during the January to September 2008 period, compared with 2007 figures, but a strong yen and the high cost of steel have left Japanese shipbuilders with little by way of a competitive edge.rnEven an order book backlog of 1630 vessels could prove difficult in turning a decent margin if indigenous steel makers fail to reduce the hefty $800/t price tag for shipbuilding plate and pass on the recent reductions in iron ore costs.