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Abe Revives Dying Shipyards as JBIC Loans Jump 30%: Japan Credit

For a sign of success for Prime Minister Shinzo Abe’s economic stimulus policies look no further than Japan’s once-stricken shipbuilding industry.

Japan Marine United Corp. has work scheduled for more than two years and is building two types of large bulk carriers at its Ariake shipyard that are about 20 percent more fuel efficient, spokeswoman Shoko Aoyama said. Japanese shipbuilders’ orders reached the highest level since 2007 last fiscal year, industry data show. Japan Bank for International Cooperation boosted ship loans to foreign customers by 30 percent in the period, Katsuya Mogaki, director at the bank’s marine and aerospace finance division, said in an April 16 interview.