Recently, Japanese shipbuilder Oshima Shipbuilding announced at a press conference that due to factors including the yen’s continued depreciation and rising ship prices, the company achieved year-on-year increases in both revenue and profit for fiscal year 2024.
In terms of new ship orders, Oshima Shipbuilding received a total of 63 new ships in fiscal year 2024, setting a new record of over 60 ships in a single year since 2013. As of September 4, 2025, Oshima Shipbuilding had a backlog of 135 ships on order, equivalent to approximately 3.5 years of production capacity. Ships for delivery in 2028 are essentially sold out, and negotiations for 2029 slots are currently underway.
According to the information disclosed by Oshima Shipbuilding at the press conference, the Koshaku Factory acquired in 2022 delivered its first ship since the acquisition in July 2024. So far, a total of 5 ships have been completed here, among which 3 were delivered in 2024. The shipbuilder plans to deliver 4 ships in the 2025 fiscal year, and the current shipbuilding work is progressing smoothly.
Following its integration into Oshima Shipbuilding, Koshaku Factory is progressively enhancing its shipbuilding expertise and further improving production efficiency, with a focus on constructing 64,000 DWT and 82,000 DWT bulk carriers.
Next, Oshima Shipbuilding will increase shipbuilding capacity at Koshaku Factory by comprehensively evaluating external factors such as market trends, demand for eco-friendly ships, and talent reserves. The company will advance in-house production of large LNG fuel tanks to accumulate technical expertise.
Oshima Shipbuilding is also negotiating multiple specific projects for Koshaku Factory’s floating offshore wind turbine business. This business has been selected for the Ministry of Economy, Trade and Industry’s “Green Transformation (GX) Supply Chain Development Support Project,” and will implement phased equipment investments required for mass production starting in fiscal 2025, establishing a parallel operating system alongside the new shipbuilding business.
Meanwhile, Oshima Shipbuilding is advancing negotiations on multiple specific projects related to the floating offshore wind power business at its Koshaku Factory. This business has been selected for the Ministry of Economy, Trade and Industry’s “Green Transformation (GX) Supply Chain Development Support Program.” Starting from fiscal year 2025, the company will implement phased investments in equipment required for mass production and establish an operational framework parallel to its new shipbuilding business.
Regarding new technology development and new product research and development, Oshima Shipbuilding announced the latest progress at a press conference.
In new technology development, Oshima Shipbuilding is collaborating with clients to advance the research and development of ammonia-fueled bulk carriers. The Wind Challenger project has completed the development of a new wing sail suitable for Panamax and larger vessels, manufactured by Koshaku Factory.
In new ship design development, following the completion of the third-phase adaptation ship design, Oshima Shipbuilding is advancing the design and development of a new generation of 64,000 DWT and 82,000 DWT bulk carriers to ensure continued technological leadership through iterative innovation.
Oshima Shipbuilding also stated at the press conference that it will continue to prioritize forward-looking technological R&D as a key initiative and strengthen related measures.
Currently, Oshima Shipbuilding is constructing its third liquefied natural gas (LNG) fueled vessel, which will be the first to be equipped with Oshima Shipbuilding’s independently developed fuel tanks. A new shipbuilding project for ammonia-fueled ships is also underway, and related technology research and development will continue. As small and medium-sized bulk carriers are Oshima Shipbuilding’s core business, given the continued demand for orders for conventional fuel ships in the near term, the company will continue to focus on research and development of technologies to improve the fuel efficiency of conventional fuel ships.
With the recovery of the global new shipbuilding market, Japan is striving to restore the international competitiveness of its shipbuilding industry. Against this backdrop, Oshima Shipbuilding and Nagasaki City have signed a cooperation agreement to promote the revitalization of shipbuilding-related industries, foster regional revitalization, and advance local revitalization.
Meanwhile, Oshima Shipbuilding stated it will continue to advance industry-academia collaborations with Kyushu University and Nagasaki University to foster the development of next-generation talent and technological innovation.