Japan: Sasebo Group Sees Increase in Newbuild Orders

During the first nine months of the fiscal year ending March 31, 2013, although the Japanese economy showed signs of picking up slowly on the back of reconstruction-related demand from the Great East Japan Earthquake, it began to weaken amid a slowdown in the global economy. Under such circumstances, Sasebo Group posted orders received of ¥21,619 million in the shipbuilding business, a 47.6% increase from the same period of the previous fiscal year.

Included in this amount were new shipbuilding orders for 2 units of 75,000 DWT bulk carriers, 3 units of 77,000 DWT bulk carriers and 2 units of 84,000 DWT bulk carriers, as well as ship repairs for the Japan Maritime Self-Defense Force, United States Navy vessels, and commercial vessels.

Net sales amounted to ¥24,955 million, decreasing 46.0% from the same period of the previous fiscal year as a result of a reduction in the scale of new shipbuilding operations, in addition to progress on low-priced new shipbuilding orders that were received after the Lehman Shock. The shipbuilding business posted a segment loss of ¥1,787 million. New ships delivered during the first nine months of the current fiscal year totaled 4 ships: 1 unit of 180,000 DWT bulk carrier and 3 units of 75,000 DWT bulk carriers. As a result, the order backlog for new shipbuilding came to 11 units.

(1 Japanese Yen equals 0.01 US Dollar)

[mappress]
Press Release, February 20, 2013