Japanese shipbuilder Mitsubishi Heavy Industries has announced to reorganize its shipbuilding business with the establishment of two separate, wholly-owned entities. Mitsubishi Shipbuilding Co. will primarily undertake construction of ships that require intensive outfitting. The company will focus its business operations on ship engineering, design, manufacturing and repair … [Read more...]
Mitsubishi Heavy Industries Forming Shipbuilding Alliances with Japanese Rivals
Japanese shipbuilder Mitsubishi Heavy Industries (MHI) says it has reached basic agreements with other domestic shipbuilders on forming alliances in the commercial shipbuilding business. MHI said agreements were signed with Imabari Shipbuilding and Namura Shipbuilding in the wake of ongoing discussions focused on forming the alliances. MHI is also continuing discussions … [Read more...]
Japan’s Mitsubishi Heavy Industries Considering Shipbuilding Options
By Chris Cooper and Kiyotaka Matsuda (Bloomberg) -- Mitsubishi Heavy Industries Ltd. is considering options for its shipbuilding business to reduce costs as persistently weak demand for vessels prompts companies in the industry to take measures to reorganize their operations and form partnerships. The company is considering a capital tieup with three Japanese shipbuilders … [Read more...]
Japan’s MHI Scuttles Cruise Shipbuilding Plans After Losses on Carnival Ships
TOKYO, Oct 18 (Reuters) - Japan's Mitsubishi Heavy Industries Ltd has abandoned its ambition to build European cruise liners and will stick to making smaller ferries and other medium-sized passenger ships after racking up losses on a venture to build two large vessels. Mitsubishi Heavy Industries (MHI), Japan's No.4 shipbuilder, booked 238 billion yen ($2.3 billion) in … [Read more...]
Mitsubishi Heavy to Shrink Shipbuilding Operations -Report
TOKYO, Oct 9 (Reuters) - Japan's Mitsubishi Heavy Industries is planning to stop taking new orders for large passenger ships, downsizing its shipbuilding operations due to a slump in orders, the Nikkei newspaper reported on Sunday. The plans by Japan's fourth-largest shipbuilder come as new shipbuilding orders have declined 80 percent so far this year, the Nikkei said. … [Read more...]