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%.
Join the 68,365 members that receive our newsletter.
Have a news tip? Let us know.
By Ann Koh (Bloomberg) Hundreds of thousands of seafarers risk being stuck at sea beyond the expiry of their contracts because of India’s surging coronavirus outbreak, according to one of the...
by Karen Lema (Reuters) – The Philippines has rejected an annual summer fishing ban imposed by China in the disputed South China Sea and encouraged its boats to keep fishing...
By Jessica Jaganathan SINGAPORE, May 3 (Reuters) – Liquefied natural gas (LNG) cargoes are being diverted away from ports in India as surging coronavirus cases there hamper domestic gas demand,...
