Increased demand for RORO vessels and long-distance ferries driven by modal shift
First written in FY2020-Q1. 1 of 3 entries say "Reframed", first in FY2021. Latest entry: FY2023.
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- FY2023RestatedAnnual report
「We will actively pursue opportunities to capture replacement demand for small and medium-sized ferries and RORO vessels, for which we have extensive construction experience.」
The order-taking policy focused on capturing replacement demand for small and medium-sized ferries and RORO vessels continues. - FY2021ReframedAnnual report
「We will actively pursue opportunities to capture replacement demand for small and medium-sized ferries and RORO vessels, for which we have extensive construction experience, while also closely monitoring developments in the ocean-going vessel market.」
The background to the modal shift is not described, and the wording has been changed to an order-taking policy focused on capturing replacement demand for small and medium-sized ferries and RORO vessels. - FY2020-Q1First statedAnnual report
「In Japan, momentum for a modal shift from truck transport to coastal shipping has grown, with the aims of reducing environmental impact and addressing labor shortages among truck drivers and other logistics workers. Demand for newbuildings, including RORO vessels and long-distance ferries for opening new routes and replacing vessels to increase transport capacity, increased, but delayed recovery in vessel prices and higher equipment and materials costs put pressure on construction profitability, resulting in difficult earnings conditions.」
For the first time, the market view describes increased demand for newbuildings of RORO vessels and long-distance ferries as modal shift from truck transport to coastal shipping progresses against a backdrop of efforts to reduce environmental impact and address logistics labor shortages.