Japan's Domestic Shipping Industry Faces Decline in Cement and Other Key Commodities

Recent statistics from Japan's Ministry of Land, Infrastructure, Transport and Tourism reveal a significant decrease in the transportation of cement and other major commodities by domestic shipping.

The Ministry of Land, Infrastructure, Transport and Tourism of Japan released a report on January 24, 2024, detailing the latest statistics for the country's domestic shipping industry. According to the report, there was a noticeable decline in the transportation volumes of several key commodities in October.

The total transportation volume recorded was 26.33 million tons, marking a 6.0% decrease compared to the same month in the previous year. Additionally, the report highlighted a 5.9% reduction in ton-kilometers, a measure of transportation volume multiplied by distance.

Specifically, the transportation of cement, a critical component in the construction and infrastructure sectors, saw a 4.2% decrease. Other significant commodities such as gravel, sand, stone, limestone, and steel also experienced declines ranging from 2.1% to 9.4%. In contrast, volatile oil saw a marginal increase of 0.4%.

The report also noted a decrease in transportation efficiency, with cargo ships operating at 40.4% efficiency and oil tankers at 41.8%. These statistics reflect broader challenges faced by the domestic shipping industry in Japan, including changes in industrial demand and supply chain dynamics.

The decline in cement transportation is particularly noteworthy, as it may indicate shifts in the construction industry or broader economic trends affecting infrastructure development.

This report provides valuable insights into the current state of Japan's domestic shipping industry and its impact on key sectors like construction and manufacturing.

Source: LNEWS