EXTRACT 1

Japan’s shipyards remain intact after quake

Japan’s major shipyards escaped the full impact of the March 11 earthquake and tsunami that struck the northeastern coast of the country with full force. An official at the Japan Ship Exporters’ Association said the devastating natural disaster “will have no impact on future export ship orders at all”. Although several small shipyards in the quake-hit areas were affected, major Japanese shipyards that build large vessels for exports are concentrated in western Japan and remain intact, the official said. Mitsui Engineering & Shipbuilding sustained “slight material damages” in the company’s Kasai Center and Chiba Works but did not consider such slight damages would cause serious impact on operations. “The rotational schedule of interruption of power supply due to the earthquake may affect our operation at our works and subsidiaries. However, the degree of the impact is not known now,” the company said in a statement. Japanese export ship orders rose for the $15^{th}$ consecutive month in February on a year-on-year basis. Japanese shipbuilders received orders for 277 export vessels - 259 bulk carriers, 10 oil tankers and eight general cargo vessels - in the April-February period.

(Adapted from: www.australianmerchantnavy.com, March 2011)

According to the following segment from the EXTRACT 1: “Japanese export ship orders rose for the $15^{th}$ consecutive month in February on a year-on-year basis.”