日本海事新聞ニュース Japan Maritime Daily Apr 28, 2025 (Mon)

‌【Current of Japanese shipowners】Financing environment for China-Built vessels deteriorates

　“We have carefully considered financing new ships at Chinese shipyards. The United States Trade Rep ・・・ 続きはログインして下さいnext %E3%80%80%E2%80%9CWe+have+carefully+considered+financing+new+ships+at+Chinese+shipyards.+The+United+States+Trade+Representative+%28USTR%29+decision+comes+with+a+180-day+grace+period%2C+but+we+don%E2%80%99t+view+this+as+a+safety+net.%E2%80%9C+%3Cbr%3E%E3%80%80On+April+18%2C+despite+the+weather+reminiscent+of+early+summer%2C+a+megabank+official+answered+interviews+with+serious+expression+on+his+face.+%3Cbr%3E%E3%80%80%E2%96%A0+LNG+carrier+financing+%3Cbr%3E%E3%80%80There+is+a+reason+why+megabanks+are+becoming+more+vigilant.+%3Cbr%3E%E3%80%80On+April+17+Eastern+Time%2C+the+USTR+announced+new+measures%2C+including+surcharges+on+port+entry+fees%2C+for+Chinese-flagged+or+Chinese-built+ships.+%3Cbr%3E%E3%80%80The+targets+are+expected+to+include+foreign-made+PCTCs+and%2C+in+future%2C+LNG+%28liquefied+natural+gas%29+carriers.+%3Cbr%3E%E3%80%80Since+2019%2C+China%E2%80%99s+shipbuilding+industry+has+been+booming+with+orders+for+new+ships%2C+and+now+accounts+for+70%25+of+the+world%E2%80%99s+general+merchant+ship+construction.+In+the+past%2C+Japanese+shipping+majors+and+shipowners+were+cautious+about+placing+orders+with+Chinese+shipyards%2C+but+the+tide+began+to+turn+in+early+2019.+%3Cbr%3E%E3%80%80The+megabank+official+explains.+%3Cbr%3E%E3%80%80%E2%80%9CIn+2019%2C+Qatar+announced+plans+to+order+around+100+LNG+carriers%2C+including+to+replace+existing+ships.+As+in+the+past%2C+the+%E2%80%98matchmaking+system%E2%80%99+was+used%2C+with+separate+bids+being+made+by+shipping+companies+and+shipyards%2C+and+shipping+companies+with+successful+bids+entrusted+construction+to+shipyards+designated+by+Qatar.+Most+of+the+companies+were+Korean+shipyards%2C+but+Hudong-Zhonghua+Shipbuilding+%28Group%29+was+also+included.%E2%80%9C+%3Cbr%3E%E3%80%80In+fact%2C+Japanese+shipping+majors+have+already+ordered+more+than+10+LNG+carriers+from+this+major+Chinese+shipyard+in+joint+ventures+with+overseas+shipping+companies.+The+first+ship+was+delivered+in+April.+%3Cbr%3E%E3%80%80On+April+18%2C+a+Japanese+regional+bank+official+responded+to+a+telephone+interview+and+pointed+out+the+following%3A+%3Cbr%3E%E3%80%80%E2%80%9CThe+USTR%E2%80%99s+imposition+of+port+entry+fees+on+LNG+carriers+is+of+concern+to+Japanese+regional+banks+as+well.+Facing+strong+demand+for+funds+from+shipping+majors%2C+several+Japanese+regional+banks+are+participating+in+syndicated+lending+led+by+megabanks.+If+additional+measures+are+implemented+against+LNG+carriers+in+three+years%E2%80%99+time%2C+there+is+a+risk+that+the+asset+value+of+the+LNG+carriers%2C+which+serve+as+collateral%2C+will+be+eroded.%E2%80%9C+%28Ship+financing+official%29+%3Cbr%3E%E3%80%80The+USTR%E2%80%99s+tariff+policy+is+believed+to+be+driven+by+President+Trump%E2%80%99s+long-held+%E2%80%9Copposition+to+China%E2%80%99s+shipbuilding+industry.%E2%80%9C+%3Cbr%3E%E3%80%80Japanese+shipping+companies+have+placed+orders+with+Chinese+shipyards+for+a+number+of+projects%2C+including+not+only+LNG+carriers%2C+but+also+PCTCs%2C+bulkers%2C+and+tankers.+Megabanks+and+Japanese+regional+banks+are+widely+responsible+for+this+financing.+%3Cbr%3E%E3%80%80In+response+to+the+geopolitical+risk+of+the+U.S.-China+trade+friction%2C+Japanese+ship+finance+will+be+required+to+take+difficult+measures+in+the+future%2C+including+lending+to+Chinese-built+ships.+%3Cbr%3E%E3%80%80%E2%96%A0+Trump%E2%80%99s+four-year+term+%3Cbr%3E%E3%80%80%E2%80%9CPresident+Trump+has+pledged+to+revive+the+U.S.+shipbuilding+industry%2C+but+in+reality+it+is+nearly+impossible+to+revive+U.S.+shipyards%2C+which+have+less+than+1%25+of+the+global+market+share%2C+in+just+two+to+three+years.%E2%80%9C+%3Cbr%3E%E3%80%80Five+days+after+the+USTR%E2%80%99s+announcement%2C+a+representative+from+a+local+shipyard+gave+an+interview+at+a+shared+office+in+Yurakucho.+%3Cbr%3E%E3%80%80USTR+Representative+Katherine+Tai+said+at+a+press+conference%3A+%3Cbr%3E%E3%80%80%E2%80%9CThe+United+States+ranks+19th+in+commercial+shipbuilding%2C+building+fewer+than+five+ships+per+year.+Meanwhile%2C+China+is+building+over+1%2C700+ships+a+year.%E2%80%9C+%3Cbr%3E%E3%80%80Emphasizing+this+disparity%2C+President+Trump+positioned+his+historic+%E2%80%9Cinvocation+of+Section+301+of+the+Trade+Act%E2%80%9C+as+%E2%80%9Cthe+beginning+of+a+counterattack.%E2%80%9C+%3Cbr%3E%E3%80%80However%2C+realistically%2C+there+is+little+chance+that+American+shipyards+will+make+a+comeback+in+commercial+shipbuilding.+In+fact%2C+it+is+said+that+Trump+is+prioritizing+the+construction+of+%E2%80%9Cnaval+vessels.%E2%80%9C+%3Cbr%3E%E3%80%80In+January+this+year%2C+the+U.S.+Navy+announced+plans+to+expand+its+fleet+from+295+ships+in+2024+to+390+by+the+mid-2050s+in+order+to+close+the+gap+with+China.+In+line+with+this%2C+South+Korea%E2%80%99s+HD+Hyundai+Group+and+Hanwha+Ocean+have+been+acquiring+U.S.+shipyards+since+last+year.+%3Cbr%3E%E3%80%80A+single+order+for+naval+shipbuilding+results+in+a+long-term+MRO+%28maintenance%2C+repair%2C+and+overhaul%29+contract%2C+providing+stable+profits+to+the+shipyards.+%3Cbr%3E%E3%80%80In+March%2C+Hanwha+Ocean+became+the+first+Korean+shipbuilding+company+to+complete+MRO+work+for+a+U.S.+Navy+vessel.+The+global+naval+vessel+MRO+market+is+estimated+to+be+around+%248+billion.+%3Cbr%3E%E3%80%80The+U.S.+Navy%E2%80%99s+7th+Fleet+is+effectively+home+ported+in+Japan%2C+with+major+shipyards+regularly+carrying+out+repairs+there.+%3Cbr%3E%E3%80%80Are+Japanese+shipyards+interested+in+building+U.S.+naval+ships%3F+An+executive+at+a+major+shipbuilding+company+explains.+%3Cbr%3E%E3%80%80%E2%80%9CI+took+part+in+a+business+tour+of+U.S.+shipyards+last+year%2C+and+my+strong+impression+was+that+revival+would+require+not+just+acquisitions+but+also+large+capital+investments.+Although+there+is+interest+in+the+naval+ship+business%2C+it+is+necessary+to+carefully+assess+whether+it+is+realistic+to+actually+build+them+at+a+U.S.+shipyard.+President+Trump%E2%80%99s+term+is+four+years.+The+private+sector%E2%80%99s+operations+will+continue+after+the+term.+We+cannot+go+ahead+with+capital+investments+that+carry+the+risk+of+becoming+stranded+assets.%E2%80%9C+%3Cbr%3E%28Japanese+ship+owners+coverage+team%29+%3Cbr%3E%3D+Posted+every+other+Monday+%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cbr%3EDisclaimer%3A+The+English+translations+provided+through+this+service+are+the+result+of+translations+made+by+The+Japan+Maritime+Daily+or+automatically+and+mechanically+translated+by+The+Japan+Maritime+Daily+using+an+automated+translation+system+provided+by+a+third+party+after+certain+processing+of+the+Japanese+content+licensed+by+the+third+party.+In+terms+of+the+English+translation%2C+The+Japan+Maritime+Daily+and+MarineNet+Co.%2C+Ltd.+make+no+warranty+or+burden+of+any+kind%2C+express+or+implied%2C+including+its+accuracy%2C+reliability%2C+validity+or+fitness+for+a+particular+purpose.+MarineNet+Users+should+fully+understand+that+this+service+uses+an+automated+translation+system+that+automatically+and+mechanically+recognizes+and+analyzes+information+and+produces+results.+The+users+should+understand+the+above+conditions+before+using+this+service.%3Cbr%3E%3Cbr%3E%E5%85%8D%E8%B2%AC%E4%BA%8B%E9%A0%85%EF%BC%9A%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E4%BB%8B%E3%81%97%E3%81%A6%E6%8F%90%E4%BE%9B%E3%81%95%E3%82%8C%E3%82%8B%E8%8B%B1%E8%A8%B3%E3%81%AF%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%BD%9C%E6%88%90%E3%81%99%E3%82%8B%E3%81%8B%E3%80%81%E5%8F%88%E3%81%AF%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8B%E3%82%89%E4%BD%BF%E7%94%A8%E8%A8%B1%E8%AB%BE%E3%82%92%E5%8F%97%E3%81%91%E3%81%9F%E6%97%A5%E6%9C%AC%E8%AA%9E%E3%81%AE%E3%82%B3%E3%83%B3%E3%83%86%E3%83%B3%E3%83%84%E3%82%92%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%B8%80%E5%AE%9A%E3%81%AE%E5%87%A6%E7%90%86%E3%82%92%E8%A1%8C%E3%81%A3%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8C%E6%8F%90%E4%BE%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E5%88%A9%E7%94%A8%E3%81%97%E3%81%A6%E8%87%AA%E5%8B%95%E7%9A%84%E3%83%BB%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E7%BF%BB%E8%A8%B3%E3%81%97%E3%81%9F%E7%B5%90%E6%9E%9C%E3%81%A7%E3%81%82%E3%82%8A%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%80%81%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%81%AF%E3%80%81%E5%BD%93%E8%A9%B2%E8%8B%B1%E8%A8%B3%E3%81%AB%E9%96%A2%E3%81%97%E3%81%A6%E3%80%81%E3%81%9D%E3%81%AE%E6%AD%A3%E7%A2%BA%E6%80%A7%E3%80%81%E4%BF%A1%E9%A0%BC%E6%80%A7%E3%80%81%E5%A6%A5%E5%BD%93%E6%80%A7%E5%8F%8A%E3%81%B3%E7%89%B9%E5%AE%9A%E7%9B%AE%E7%9A%84%E3%81%B8%E3%81%AE%E9%81%A9%E5%90%88%E6%80%A7%E3%82%92%E5%90%AB%E3%82%81%E3%80%81%E6%98%8E%E7%A4%BA%E5%8F%88%E3%81%AF%E9%BB%99%E7%A4%BA%E3%81%AB%E3%82%82%E3%80%81%E3%81%84%E3%81%8B%E3%81%AA%E3%82%8B%E4%BF%9D%E8%A8%BC%E3%82%82%E3%81%97%E3%81%BE%E3%81%9B%E3%82%93%E3%80%82%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%83%A6%E3%83%BC%E3%82%B6%E3%83%BC%E3%81%AF%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%8C%E3%80%81%E8%87%AA%E5%8B%95%E7%9A%84%E3%81%8B%E3%81%A4%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E6%83%85%E5%A0%B1%E3%82%92%E8%AA%8D%E8%AD%98%E3%83%BB%E5%88%86%E6%9E%90%E3%81%97%E3%81%A6%E7%B5%90%E6%9E%9C%E3%82%92%E5%87%BA%E5%8A%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E4%BD%BF%E7%94%A8%E3%81%97%E3%81%9F%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%A7%E3%81%82%E3%82%8B%E3%81%93%E3%81%A8%E3%82%92%E5%8D%81%E5%88%86%E3%81%AB%E7%90%86%E8%A7%A3%E3%81%97%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E5%88%A9%E7%94%A8%E3%81%99%E3%82%8B%E3%82%82%E3%81%AE%E3%81%A8%E3%81%97%E3%81%BE%E3%81%99%E3%80%82%3Cbr%3E

【国内船主の今】(392)中国建造船 融資難化。米造船再建に冷静な視線

2025/04/28(月)

日本海事新聞 JMD

関連記事ニュース Related news