According to Japan Ship Exporters" Association, Japanese export ship orders fell sharply for the fourth consecutive month in January on year due to ship owners" flagging demand for new vessels amid the deepening global economic slump.

It said that Japan received orders for export ships totaling 313,520 gross tonnes in January, down by 75.9% YoY from January 2008. January orders for eight ships included seven bulk carriers and one oil tanker.

January decline is followed by drops of 83.9% in October 2008, 79.7% in November 2008 and 91.1% in December 2008.

During the first 10 months of fiscal 2008, export orders totaled 13.72 million gross tonnes, up by 39.5% YoY. Orders for 312 vessels included 265 bulkers, 32 oil tankers and 15 general cargo vessels.