Slump in the Shipbuilding and Shipping Markets Due to Oversupply of Tonnage
First written in FY2016. 24 of 33 entries say "Restated". Latest entry: 2026-08-06.
0 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「In the newbuild market, shipyards and shipowners are continuing to consider alternative fuels to heavy fuel oil, including LNG, hydrogen, methanol, ammonia and biofuels, but particularly among small and midsize shipowners, the wait-and-see stance continues. Manufacturing costs are rising as equipment, materials and labor costs increase, while freight and charter rates remain misaligned. Since near-term berths at shipyards are full, more orders now have delivery dates more than 3 years out, and both shipyards and shipowners are taking a cautious stance toward orders.」
A cautious stance toward orders continues due to the consideration of alternative fuels, small and midsize shipowners’ wait-and-see stance, rising manufacturing costs, the mismatch with freight and charter rates, and longer delivery times. No substantive shift from the previously challenging order environment is noted. - FY2025-H1WorsenedAnnual report
「In the newbuild market, shipyards and shipowners are both continuing to consider alternative fuels to the heavy fuel oil used to date, but particularly among small and midsize shipowners, the wait-and-see stance continues because specific policies, including procurement methods, have not been established. In addition, manufacturing costs are rising and ship prices are increasing as crude oil, steel and labor costs rise, while freight and charter rates remain misaligned. Since near-term berths at shipyards are full, more orders now have delivery dates more than 3 years out, and shipowners are showing a reluctance to place orders.」
Notes the unsettled procurement policies for alternative fuels, rising manufacturing costs, the mismatch with freight and charter rates, and longer delivery times, with shipowners’ reluctance to place orders becoming more pronounced. - FY2024-Q3WorsenedAnnual report
「In the newbuild market, shipowners are waiting to see how developments unfold and tend to hold back on orders because specific policies have not been established for alternative fuels to heavy fuel oil or their procurement methods, in line with the goal adopted by an International Maritime Organization committee in July 2023 of achieving net-zero greenhouse gas emissions from international shipping by around 2050. Ship prices are rising as crude oil, steel and labor costs increase, while freight rates and charter rates are rising only slowly.」
Notes that shipowners are tending to hold back on orders because procurement methods for alternative fuels have not been established and freight and charter rates are rising slowly relative to ship prices, making the challenging environment for newbuild orders more apparent. - FY2024-Q2WorsenedAnnual report
「Newbuild orders, which had temporarily shown signs of recovery as dry bulk market conditions improved, are increasingly being put on hold as market conditions have changed.」
Notes that, despite expectations of a recovery in newbuild orders following the improvement in dry bulk market conditions, more shipowners are waiting to see how market conditions change before placing orders. - FY2023MitigatedAnnual report
「In addition to shipowners waiting to see how alternative fuels to heavy fuel oil develop, negotiations remained stagnant until around early 2023 amid an uncertain outlook, including soaring crude oil and steel prices and sharp exchange-rate fluctuations. However, the market turned at the start of the upswing in dry bulk market conditions, and concerns that berths for near-term construction would fill up also prompted a change in shipowners’ attitudes toward placing orders.」
Notes that although negotiations remained stagnant until around early 2023, shipowners’ attitudes toward placing orders changed as dry bulk market conditions improved. - FY2023-Q3RestatedAnnual report
「In the newbuild market, negotiations have stalled amid an uncertain outlook, with shipowners waiting to see how global environmental regulations develop, in addition to soaring crude oil and steel prices and sharp exchange-rate fluctuations.」
Newbuild negotiations continue to stagnate as shipowners wait to see how environmental regulations develop, while crude oil and steel prices remain high and exchange rates fluctuate. - FY2023-Q2RestatedAnnual report
「In the newbuild market, negotiations have stalled amid an uncertain outlook, with shipowners waiting to see how global environmental regulations develop, in addition to soaring crude oil and steel prices and sharp exchange-rate fluctuations.」
Continues to note the stagnation of newbuild negotiations due to shipowners waiting to see how environmental regulations develop, soaring crude oil and steel prices, and exchange-rate fluctuations. - FY2023-Q1WorsenedAnnual report
「In the newbuilding market, although some parties are waiting to see how global environmental regulations develop, shipowners' appetite for construction is increasing as shipping market conditions remain favorable. However, negotiations have stalled amid an uncertain outlook due to higher crude oil and steel prices and sharp foreign exchange fluctuations.」
The company acknowledges favorable shipping market conditions and shipowners' increasing appetite for construction, while stating that newbuilding negotiations have stalled due to higher crude oil and steel prices and sharp foreign exchange fluctuations. - FY2022-Q3RestatedAnnual report
「In the newbuilding market, although some parties are waiting to see how global environmental regulations develop, shipowners' appetite for construction has recovered and negotiations are active as shipping market conditions improve.」
Although the wait-and-see approach toward environmental regulations remains, the company continues to recognize that shipowners' appetite for construction has recovered and newbuilding negotiations are active against a backdrop of favorable shipping market conditions. - FY2022-Q2RestatedAnnual report
「In the newbuilding market, although some parties are waiting to see how global environmental regulations develop, shipowners' appetite for construction has recovered and negotiations are active as shipping market conditions improve.」
Although the wait-and-see approach toward environmental regulations remains, the company continues to recognize that shipowners' appetite for construction has recovered and negotiations are active against a backdrop of favorable shipping market conditions. - FY2022-Q1MitigatedAnnual report
「In the newbuilding market, although some parties are waiting to see how global environmental regulations develop, shipowners' appetite for construction has recovered and negotiations are becoming more active as shipping market conditions improve.」
Although the wait-and-see approach toward environmental regulations remains, shipowners' appetite for construction and negotiations are recovering following the improvement in shipping market conditions. Separately, the company describes continued earnings pressure from higher costs. - FY2021RestatedAnnual report
「In the newbuilding market, in addition to the continued wait-and-see approach toward global environmental regulations, excess newbuilding supply persists and the oceangoing vessel market has not recovered.」
The company continues to recognize market conditions characterized by the wait-and-see approach toward environmental regulations, excess newbuilding supply and the lack of recovery in the oceangoing vessel market. - FY2021-Q3RestatedAnnual report
「In the newbuilding market, in addition to the continued wait-and-see approach toward global environmental regulations, excess newbuilding supply persists and the oceangoing vessel market has not recovered. In Japan, declining cargo volumes and a sharp drop in passenger numbers due to COVID-19 have reduced shipowners' appetite for newbuilding construction, and negotiations for coastal vessels have stalled.」
The company continues to describe the wait-and-see approach toward environmental regulations, excess newbuilding supply, the lack of recovery in the oceangoing vessel market, and lower demand and stalled negotiations for coastal vessels due to COVID-19. - FY2021-Q2RestatedAnnual report
「In the newbuilding market, in addition to the continued wait-and-see approach toward global environmental regulations, excess newbuilding supply persists and the oceangoing vessel market has not recovered. In Japan, declining cargo volumes and a sharp drop in passenger numbers due to COVID-19 have reduced shipowners' appetite for newbuilding construction, and negotiations for coastal vessels have stalled.」
The company continues to describe the wait-and-see approach toward environmental regulations, excess newbuilding supply and the lack of recovery in the oceangoing vessel market, as well as lower demand and stalled negotiations for coastal vessels due to COVID-19. - FY2021-Q1WorsenedAnnual report
「In the newbuilding market, negotiations have stalled due to the continued wait-and-see approach toward global environmental regulations, persistent excess newbuilding supply, reduced cargo volumes associated with the spread of COVID-19, and shipowners' diminished appetite for newbuilding construction following a sharp decline in passenger numbers.」
In addition to the previous wait-and-see approach toward environmental regulations and excess newbuilding supply, declining cargo volumes and passenger numbers due to the spread of COVID-19, together with shipowners' diminished appetite for construction, have made the stagnation in newbuilding negotiations more pronounced. - FY2020-Q3RestatedAnnual report
「In the newbuilding market, shipping market conditions are showing a short-term recovery, but negotiations have stalled as parties wait to see how global environmental regulations develop. In addition, although equipment and materials prices are trending higher, excess newbuilding supply has delayed the recovery in newbuilding prices, creating a challenging profitability environment.」
The company acknowledges the recovery in shipping market conditions while describing stalled newbuilding negotiations as parties wait to see how environmental regulations develop, and a delayed recovery in newbuilding prices due to excess supply. - FY2020-Q2RestatedAnnual report
「In the newbuilding market, shipping market conditions are showing a short-term recovery, but excess newbuilding supply continues and newbuilding prices have not recovered.」
The company reaffirms its view that, despite the short-term recovery in shipping market conditions, excess newbuilding supply and the lack of recovery in newbuilding prices continue. - FY2020-Q1RestatedAnnual report
「In the newbuilding market, shipping market conditions showed a short-term recovery, but excess newbuilding supply continued and newbuilding prices did not recover.」
The company reaffirms its view that, despite the short-term recovery in shipping market conditions, excess newbuilding supply and the lack of recovery in newbuilding prices continue. - FY2019-Q3RestatedAnnual report
「In the newbuilding market, shipping market conditions are showing a short-term recovery, but excess newbuilding supply continues and newbuilding prices have not recovered.」
The company acknowledges the short-term recovery in shipping market conditions while stating that excess newbuilding supply and the lack of recovery in newbuilding prices continue. There has been no material change in its assessment of market conditions. This is also consistent with the statement that there have been no changes to policies, plans or other matters. No quantified risks or actual events are disclosed. - FY2019-Q2RestatedAnnual report
「In the newbuilding market, shipping market conditions are showing a short-term recovery, but excess newbuilding supply continues and newbuilding prices have not recovered.」
The company acknowledges the short-term recovery in shipping market conditions while stating that excess newbuilding supply and the lack of recovery in newbuilding prices continue. - FY2019-Q1RestatedAnnual report
「In the newbuilding market, demand for newbuilding construction remains weak due to excess vessel capacity and shipbuilding capacity, newbuilding prices have not recovered, and market conditions remain challenging.」
The company continues to describe a challenging market environment due to excess vessel capacity and shipbuilding capacity, weak demand for newbuildings and the lack of recovery in newbuilding prices. - FY2018RestatedAnnual report
「Although the shipping market is showing signs of recovery, demand for newbuilding construction remains weak due to excess vessel capacity and shipbuilding capacity. Newbuilding prices have not fully recovered, making it a challenging year.」
Although the shipping market is showing signs of recovery, excess vessel capacity and shipbuilding capacity, weak demand for newbuildings and the lack of recovery in newbuilding prices continue. - FY2018-Q3RestatedAnnual report
「In the newbuilding market, although the shipping market is showing signs of recovery, excess vessel capacity and shipbuilding capacity have not been eliminated, and the newbuilding market remains challenging.」
Although the shipping market is showing signs of recovery, excess vessel capacity and shipbuilding capacity persist, and the newbuilding market remains challenging. - FY2018-Q2RestatedAnnual report
「Although the shipping market is showing signs of recovery, excess vessel capacity and shipbuilding capacity have not been eliminated, and the newbuilding market remains challenging.」
Although the shipping market is showing signs of recovery, excess vessel capacity and shipbuilding capacity persist, and the newbuilding market remains challenging. - FY2018-Q1RestatedAnnual report
「For newbuildings, excess vessel capacity continues, newbuilding negotiations have fallen sharply against a backdrop of uncertainty over the outlook for the global economy, and depressed newbuilding prices also persist.」
Excess vessel capacity, the sharp decline in newbuilding negotiations and depressed newbuilding prices continue to be disclosed. - FY2017RestatedAnnual report
「Although shipping market conditions are gradually showing signs of recovery, the shipbuilding industry will need more time to eliminate excess vessel capacity and construction facilities, and improving depressed newbuilding prices remains difficult.」
Although shipping market conditions are showing signs of recovery, excess vessel capacity and construction facilities, as well as depressed newbuilding prices, have yet to be resolved. - FY2017-Q3RestatedAnnual report
「For newbuildings, global excess vessel capacity has yet to improve, and newbuilding negotiations have fallen sharply. In addition, the order environment became challenging due to oil price trends and uncertainty over the outlook for the global economy.」
The company continues to recognize that global excess vessel capacity has not improved and that newbuilding negotiations have fallen sharply. - FY2017-Q2WorsenedAnnual report
「For newbuildings, global excess vessel capacity has yet to improve, and newbuilding negotiations have fallen sharply. In addition, the order environment became challenging due to the yen's appreciation since the beginning of the year, oil price trends and uncertainty over the outlook for the global economy.」
The company states that global excess vessel capacity has not improved and that newbuilding negotiations have fallen sharply, providing a more specific emphasis than in the previous quarter on the challenging order environment. - FY2017-Q1RestatedAnnual report
「For newbuildings, the order environment became challenging due to the pull-forward demand reversal following efforts to avoid the introduction of new regulations, global excess vessel capacity and the yen's appreciation since the beginning of the year.」
The company has again stated that global excess vessel capacity persists and that the order environment remains challenging. - FY2016First statedAnnual report
「In the shipbuilding industry, market conditions remain weak due to the large amount of excess vessel capacity, which persists, and the situation is particularly severe in the bulk market.」
Excess vessel capacity and worsening conditions in the bulk market are described as a challenging external environment in the short term.