Japan has the third largest economy in the world. As it is surrounded by sea, the country’s port plays an important role in maritime transportation for both exports and imports.
In March 2011, the world was affected when Japan was struck with natural disasters (Earthquake and Tsunami). This sudden disaster sent everyone around the world into frenzy. It affected Japan’s ports, shipping and logistics. As a result of the natural disasters, ports in the northern area of Japan had to stop operations after the Tsunami washed away port facilities, leaving the area in tatters. Ports such as Hachinohe, Ishinomaki and Onahama were severely damaged and it would take months before operations can resume.
It will take some time for Japan to rebuild itself as this is the worst disaster to hit the country since the Hiroshima/Nagasaki nuclear bombing during the World War 2.
1.2 Objectives of Project
The team will be doing a research and critical analysis on how the crisis has affected Japan’s economy and how the revival of Japan will benefit the shipping economy.
The areas of focus will be on the economic impacts of the various shipping markets and other factors contributing to the crisis and forecasting the future outcome in the shipping industry.
We intend to go beyond the surface and dig deep into the crisis to fully understand how dealing with a crisis really works. This includes looking at past records as well as analyzing the situation in a chronological pattern – 1) Before the crisis, 2) During the crisis and 3) After the crisis.
1.3 Methodology and Scope
To assist the team’s research, information will be sourced out from newspaper articles, books and internet websites. Interviews will be conducted with companies on how the disaster has affected the industry and what are the possible ways to overcome it. 2. Japan
The unprecedented disaster that recently befell Japan brought about much havoc. Measuring a massive 9.1 on the Richter scale, the earthquake along with the tsunami has been thought of as the monster among monsters. Not only did it devastate Japan literally in regards to land or housing, the disaster wrecked havoc in political and economical areas too. This would lead one to wonder if the actual destruction is not in the lands that were hit, but Japan’s economic stability.
The revival of Japan is said to be as difficult, if not more, than that of during World War ll. There is much to be said and studied in regards to the effects of the disaster; however, our area of focus will only be on Japan’s maritime industry. It also must be noted here that whenever we speak of Japan’s maritime industry / economy, we refer to the maritime industry / economy on a whole because all “sub-categories” in the world of maritime are intrinsically linked; therefore, we must affirm that the exclusion or inclusion of the word “Japan” is not of paramount importance to our project in the broadest sense.
By this you can expect that this project on Japan’s economic revival is not just confined locally (regarding Japan only), but globally (regarding the entire maritime world); in other words our project explicitly presents a thorough case-study of Japan’s maritime industry, and on the other hand implicitly show the implications wrought out on the larger scale.
For an overview of things and for the sake of convenience, we will list down the main areas of focus that we undertook.
Situation of Japan—Before, during, after.
Effects on Japan’s economy, port operations and ship tonnage. Effects on the Tanker, Dry Bulk, Container and Car Carrier.
Forecast the future outcome in the shipping industry.
2.2 Current Situation
Currently, Japan is still not coping as well as they should. For example, just one month on after the earthquake, Japan and her economy was still in shock. Her shipping industry was affected badly with the short-term and long-term effects. The Baltic...
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