The Japanese shipbuilding industry will increase the consumption of steel products

Japanese Association of shipbuilders have made their forecast for the next fiscal year. So it is estimated will grow consumption of steel products. Growth will be 3% compared to last year. In the end, the figure will reach 3.18 million tons. The consumption of steel plates will be 2.76 million tons. This is 3.3% more than for the previous indicator. Sections will be consumed 250 thousand tons. This will exceed last year’s results by 2.1%. The total volume of consumption will grow thanks to the national shipbuilding industry.

In the current financial year, the consumption volume amounted to 3.08 million tons. Compared to last year, the index declined by 11.9%. This indicates a gradual improvement in the situation. In the past financial year has seen steady decline. Things began to change for the better from April 2018. The trend continued until the end of January 2019.

Japanese shipbuilding companies, a host of external orders. The court will be built, with a total capacity of 8.6 million gross tonnes. This is significantly higher than the result for last year’s same period. The difference is 13.8%. For February 2019 figure amounted to 714,4 thousand gross tonnes. Compared to February of 2018, the figure fell by 20.4%. But experts note that this is only a temporary drop.

In January of 2020 will start to operate new rules of the International Maritime Organization. Because of this, many old ships go to the scrap. Thus, significantly will increase the demand for new. However, in this situation, the Japanese company will still be difficult. This is due to high competition. They have high production costs. Because of this, the Japanese ships are more expensive for Chinese and Korean.