Oshima recorded historic orders in FY2013

Oshima Shipbuilding of Japan inked newbuilding orders for 65 vessels of a combined 2.36m gt last fiscal year on the strength of ‘mini boom’ in global newbuilding market.
It is the historic level in terms of single annual orders, filling its orderbook scheduled until three years from now. However, new orders are forecasted to slow down as newbuilding market condition is depressed this year.

Meanwhile, related to withdrawal of its plan to construct new shipyard in Cam Ranh Bay, Khanh Hoa located in the South Central Coast of Vietnam, the Japanese shipbuilder announced through a press conference in at the end of last year, “The withdrawal is now judged as sound judgment even though it was tough decision at that time.”
Oshima explained that the withdrawal is influenced by exchange rate which reached to 100 yen to the dollar at that time resulting from historic upward revaluation of yen.
It also explained that fixing construction time is also hard to decide as supply and demand have deteriorated in global shipbuilding industry while noting, “We will contemplate along the current trends” on overseas expansion in future.