Oshima Shipbuilding’s 2028 slots almost filled following record year of orders

The prominent Japanese shipbuilder announced at a press conference on 5 September that it secured orders for 62 vessels in fiscal year 2024, marking the first time since fiscal year 2013 that annual orders exceeded 60 vessels.

As of early September 2025, the company’s backlog stood at 135 ships, with 2028 slots almost fully booked. Management noted sales are now focused on fiscal year 2029, aiming to maintain the current level of the orderbook.

Driven by the continued weak yen and improvements in contracted ship prices, Oshima posted higher revenue and profit for FY2024 compared with the previous year.

Ammonia-fuelled bulkers and next-generation designs

Looking ahead, Oshima highlighted the mid-term measures for greenhouse gas emissions reduction presented at IMO in April. “Although the direction for new fuels remains uncertain, our company regards future-focused technology development as a key priority and will continue to strengthen these efforts,” said management.

Currently, Oshima is building its third LNG-fuelled vessel, which will feature the shipyard’s first inhouse-manufactured tanks. The company is also progressing negotiations for ammonia-fuelled bulk carriers.

For small- and medium-sized bulk carriers – the core of Oshima’s construction projects – management expects conventional-fuel ship orders for the near term. Accordingly, the shipyard continues to pursue fuel-efficiency improvements for these vessels.

Oshima is actively engaged in the design and development of next-generation Ultramax and Kamsarmax bulk carriers, building on its work with Phase 3-compliant vessels.

The company is also advancing wind-assisted propulsion systems, with a third rigid-wing sail scheduled for installation on one of its newly built ships in early 2026.