Japan falls further behind South Korea amid shipbuilding boom

Export orders drop 32% in April due to lack of production capacity

20250515N Japan Marine United

Japan Marine United operates this shipyard in Yokohama, Japan. The company reaped record profit last fiscal year. (Photo obtained by Nikkei)

MASASHI ISAWA and NAMI MATSUURA

TOKYO/SEOUL -- Export deals by Japanese shipbuilders slumped sharply last month despite a rarely seen spike in global orders, resulting in a wider gap with South Korea.

In April, Japan received new export ship orders totaling over 620,000 gross tonnes, the Japan Ship Exporters' Association reported Thursday, marking a 32% plunge in volume from a year earlier.

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