83 Vessel $3.4-Billion Program Planned By Japanese Shippers

Japan's six largest shipping companies plan to invest more than $3.4 billion in construction of 83 new cargo vessels during the next three years, according to the Japan development Bank (JDB).

The construction will consist mainly of carriers of non-oil energy resources, presumably coal carriers needed to meet rising demands f o r the fuel f r om Japanese industries.

A major part of these newbuildings, it is anticipated, will be s u b s i d i z e d under the government- sponsorec annual ship construction programs, normal practice in Japan.

Sources at Ihe JDB revealed that Nippon Yu sen Kaisha (NYK) plans to build 24 new vessels, Mitsui O.S.K. Lines (MOL) another 23, Kawasaki Kisen Kaisha ( " K " Line) 17 and Yamashita- Shinnihon Steamship Co. (Y.S.

Line) another 13.

Bank officials disclosed that there were a number of grim assessments of the future for the Japanese shipping industry which included a continued sluggish dry cargo market and rising bunker fuel costs.

Maritime Reporter Magazine, page 4,  Dec 1981

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Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.