Japan’s top shipbuilders Imabari Shipbuilding and Japan Marine United Corporation have agreed to form a new joint venture company aimed at strengthening their global competitiveness in the commercial shipbuilding sector. 

The new company will commence operations under the name Nihon Shipyard beginning October 1, 2020. 

Nihon Shipyard will focus on the marketing, development and sales of all types of new commercial ships with the exception of LNG carriers. 

“Amid the ever-intensifying competitive environment where shipbuilders overseas have become more integrated, the Capital Alliance will aim to strengthen both companies’ international competitiveness in the merchant shipbuilding business, and the Joint Venture Company will be established to maximize the effectiveness of the Alliance jointing marketing and design capabilities of the respective company,” the companies said in a press release.

The new joint venture will be 51%-owned by Imabari with JMU owning the remaining 49%.