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Shipbuilders reach business agreement

Wmn
Wednesday, February 07, 2018

Japanese shipbuilders Tsuneishi Shipbuilding and Mitsui Engineering and Shipbuilding have reached an agreement to make a business alliance in the field of the design and construction of merchant ships.

The formation of the strategic alliance is aimed at attracting a higher order intake and achieving better cost competitiveness.

Under the deal, the duo plans to jointly operate Tsuineishi's overseas shipyards, according to Nikkei.

The two shipbuilders said they would continue to be managed independently and hold further discussions on the specific conditions of the alliance. Japanese shipbuilders have been joining forces over the recent period as a means of combating the industry downturn.

Namely, low ordering activity has seen many yards idle for quite some time and some of them were even forced to close down their business.








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