Japan’s mega yard joint venture becomes a strong rival to Asian yards
Imabari Shipbuilding and Japan Marine United, the two largest shipbuilders in the country, launched their joint Nihon Shipyard operations on January 1, nine months later than expected.
With JMU holding the remainder, Imabari has a 51 percent stake in the venture.
On Wednesday, the president of the new company, Maeta Yoshinori, told reporters that both Imabari and JMU understood the need to win in the midst of serious competition from rivals in South Korea and China.
A bill to fund domestic shipbuilders is being prepared by the Japanese government. Measures include long-term loans, tax cuts for the establishment of new projects and technological development subsidies.
Maritime Business World