Japan’s newbuilding orders fall below 10m gross tons in five years　日本の新造船受注、5年ぶり1,000万総トン割れ

JSEA data show capacity constraints, even as six Capesize orders were booked in December

JSEA調べ、12月単月でケープ6隻も建造能力が上限に

Japan’s shipbuilding industry saw newbuilding export orders fall below 10m gross tons in 2025 for the first time in five years, as domestic yards ran up against firm capacity limits despite resilient shipping markets.

According to data compiled by the Japan Ship Exporters’ Association (JSEA), Japanese shipyards secured export contracts for 186 vessels totalling 8.93m gross tons in the January–December 2025 period, a decline of 20 per cent year on year in gross tonnage terms.

Key points of the article

→ Annual order intake dropping below 10m gross tons marks the first such outcome in five years. While shipping markets remain broadly firm and replacement demand from shipowners continues, Japanese yards are constrained by earlier orders that have already filled available berths, leaving construction capacity as the effective ceiling on new contracts.

→ Even under these constraints, yards continued to secure orders centred on bulk carriers. In particular, Capesize vessels accounted for six contracts in December alone, with builders limiting the number of deals while selectively taking on large-scale projects. Japan’s shipbuilding industry is increasingly shifting its focus from volume to quality.

(The full article is available in both English and Japanese. The Japanese text follows the English version.)