日本海事新聞ニュース Japan Maritime Daily Nov 21, 2022 (Mon)

Japanese shipyard receives orders for small and medium-sized bulk carriers under an ultra-top-heavy payment scheme

　Taking advantage of the weak yen, a Japanese shipyard received an order for a small and medium-size ・・・ 続きはログインして下さいnext %E3%80%80Taking+advantage+of+the+weak+yen%2C+a+%3Cb%3EJapanese+shipyard%3C%2Fb%3E+received+an+order+for+a+small+and+medium-sized+bulker+under+the+condition+of+%E2%80%9Cultra-top-heavy+type%E2%80%9C+in+which+50%25+of+the+ship+price+is+received+from+the+ship+owner+at+the+time+of+contract.+Conventionally%2C+the+payment+ratio+at+the+time+of+contract+for+new+ships+is+10%25.+In+response+to+the+historic+depreciation+of+the+yen%2C+some+contracts+have+been+concluded+since+this+autumn%2C+with+the+ratio+increased+to+a+maximum+of+30%25.+However%2C+an+order+with+a+contract+price+of+50%25+is+unprecedented+for+the+Japanese+shipbuilding+industry.+Shipbuilding+companies+have+expanded+their+proposals+to+domestic+and+foreign+shipowners+to+discount+the+dollar-denominated+ship+price+to+the+extent+that+they+can+increase+the+ratio+of+revenues+that+can+be+fixed+at+the+current+level+of+the+yen%E2%80%99s+depreciation%2C+asking+them+to+increase+the+contract+money.+However%2C+as+the+yen+continues+to+appreciate+again+in+the+foreign+exchange+market%2C+there+is+little+view+that+ultra-top-heavy+deals+will+spread.+%3Cbr%3E%E3%80%80%E2%80%9CAt+a+time+when+newbuilding+business+talks+are+stagnant+due+to+a+mismatch+between+ship+prices+and+charter+rates%2C+a+different+approach+is+needed+to+find+new+shipbuilding+deals.%E2%80%9D+%28Trading+company+shipping+department%29+%3Cbr%3E%E3%80%80As+a+concrete+measure%2C+trading+company+officials+introduced+their+efforts+to+take+advantage+of+the+weaker+yen+to+change+the+payment+terms+for+new+shipbuilding+contracts+to+top-heavy+type%2C+which+has+a+high+down+payment+ratio.+On+top+of+that%2C+he+said+as+follows.+%3Cbr%3E%E3%80%80%E2%80%9CRecently%2C+we+have+concluded+multiple+contracts+for+newbuilding+of+small+and+medium-sized+bulkers%2C+with+the+ship+owner+paying+30%25+to+50%25+of+the+ship+price+at+the+time+of+contract.%E2%80%9C+%3Cbr%3E%E3%80%80Conventional+%3Cb%3EJapanese+shipyard%3C%2Fb%3Es%E2%80%99+new+shipbuilding+contracts+generally+require+four+payments+for+the+ship+price+if+the+delivery+date+is+two+years+or+later.+In+many+cases%2C+10%25+is+paid+at+contract%2C+10%25+at+groundbreaking%2C+10%25+at+launch%2C+and+70%25+at+completion.+Such+contracts%2C+which+typically+have+heavy+payments+upon+completion%2C+are+called+tail-heavy+contracts.+%3Cbr%3E%E3%80%80Since+this+fall%2C+in+negotiations+for+new+builds+of+small+and+medium-sized+bulkers%2C+a+certain+number+of+contracts+were+concluded+under+top-heavy+type+conditions%2C+in+which+the+ship+owner+pays+20%25+to+30%25+of+the+ship+price+at+the+time+of+contract%2C+although+the+number+of+ships+are+limited.+%3Cbr%3E%E3%80%80The+new+shipbuilding+order%2C+which+has+a+payment+ratio+of+50%25+at+the+time+of+contract%2C+which+has+surfaced+this+time%2C+is+%E2%80%9Cunprecedented+for+the+Japanese+shipbuilding+industry%2C+and+may+be+the+largest+top-heavy+project+in+history%2C+taking+advantage+of+the+historically+weak+yen%E2%80%9C+%28a+domestic+shipyard+official%29.+%3Cbr%3E%E3%80%80For+shipyards%2C+the+advantage+of+being+able+to+secure+50%25+of+the+ship%E2%80%99s+price+at+the+time+of+signing+the+contract+is+%E2%80%9Cextremely+significant%E2%80%9C+%28same+as+above%29.+Shipyards+will+have+room+to+discount+ship+prices+by+the+benefit+of+the+weaker+yen.+%3Cbr%3E%E3%80%80Many+of+the+shipowners+who+have+placed+orders+for+new+bulkers+under+the+conditions+of+ultra-top-heavy+type+with+a+contract+fee+of+30%25+to+50%25+are+overseas+owner-operators+%28shipowners+and+operators%29+who+have+accumulated+ample+cash+from+the+booming+dry+market+up+to+the+first+half+of+this+year.+It+seems+that+major+Japanese+ship+owners+with+large+fleets+and+excellent+financial+strength+are+also+included.+%3Cbr%3E%E3%80%80However%2C+under+the+condition+that+the+contract+amount+is+30%25+or+more+of+the+top-heavy+type%2C+the+new+shipbuilding+orders+that+%3Cb%3EJapanese+shipyard%3C%2Fb%3Es+have+received+so+far+are+limited+to+small+and+medium-sized+bulkers.+%3Cbr%3E%E3%80%80If+the+shipowners+choose+deposits%2C+their+funds+will+surely+expand+now+due+to+the+rise+in+dollar+interest+rates.+Thus%2C+although+they+have+abundant+cash+on+hand%2C+%E2%80%9Cthere+are+many+players+who+are+cautious+about+investing+a+large+amount+of+cash+of+50%25+of+ship+price+for+ships+to+be+completed+in+three+years%2C%E2%80%9D+said+another+trading+company+ship+division.+%3Cbr%3E%E3%80%80In+the+first+place%2C+the+gap+between+new+shipbuilding+prices%2C+which+remain+at+high+levels%2C+and+weak+long-term+charter+rates%2C+is+widening+more+than+ever.+Another+reason+for+the+low+number+of+deals+is+the+stagnant+negotiations+for+new+construction+of+bulkers.+%3Cbr%3E%E3%80%80With+regard+to+top-heavy+type+new+building+business+talks%2C+as+the+future+of+the+dry+bulk+market+becomes+more+uncertain%2C+more+and+more+people+pointed+out+that+%E2%80%9CIn+order+to+match+ship+prices+with+declining+long-term+charter+rates+and+lead+to+contracts%2C+the+effect+of+the+payment+ratio+of+20-30%25+at+the+time+of+contract+is+limited%2C+and+it+is+necessary+to+raise+it+to+about+50%25.%E2%80%99%E2%80%99+%28Same+as+above%29+%3Cbr%3E%E3%80%80However%2C+the+yen+exchange+rate+against+the+US+dollar%2C+which+temporarily+hit+the+151+yen+level+to+the+US+dollar+in+late+October%2C+has+been+rapidly+appreciating+against+the+US+dollar+since+the+week+before+last.+In+response+to+this%2C+some+%3Cb%3EJapanese+shipyard%3C%2Fb%3Es+began+notifying+ship+owners+that+they+would+reduce+the+ship+price+discounts+under+top-heavy+contracts+from+the+peak.+Ultra-top-heavy+contracts+with+30%25+to+50%25+of+the+contract+price+are+likely+to+be+limited+to+a+limited+number+of+cases+that+seize+the+opportunity.+%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

日本造船所、“超トップヘビー“受注。契約金5割「前例なし」。中小型BC 円安局面で

2022/11/21(月)

日本海事新聞 JMD

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