Japanese NYK Line recently held a naming ceremony at Shin Kurushima Toyohashi Shipbuilding Co. Ltd. for the region’s first LNG-fueled pure car and truck carrier.
Imabari Shipbuilding Co., Ltd. and Japan Marine United Corporation (JMU), the two largest shipbuilders in Japan, announced Friday a final agreement for the establishment of the joint venture company, starting from October 2020.
Japan has formally requested WTO dispute consultations with South Korea regarding alleged subsidies provided by the S. Korean government to its shipbuilding industry. Japan’s request was circulated to WTO members on 10 February.
Japan has filed a petition against South Korea with the World Trade Organization, in which it accuses Seoul of providing excessive aid to the domestic shipbuilding industry. Last week, Japan called South Korea to talk regarding the matter based on WTO rules. However, if the negotiation fail, Japan will seek to establish a dispute settlement panel.
According to Nikkei, Mitsubishi Heavy Industries, the Japanese conglomerate, is in talks to sell its Koyagi plant, the main one of two located in Nagasaki, to Oshima Shipbuilding, the country’s third-largest shipbuilder based in Saikai, Nagasaki Prefecture.
Imabari Shipbuilding Co., Ltd. (Imabari Shipbuilding) and Japan Marine United Co., Ltd. (JMU) decided to form a capital and business alliance, aiming to strengthen the international competitiveness of both companies’ merchant shipping business.
South Korean shipbuilders ranked first globally in total new orders during February, surpassing their Chinese rivals. Namely, local shipyards won new orders amounting 630,000 compensated gross tons in February to build eight vessels. Chinese shipbuilders ranked second with 20,000 CGTs to build one vessel. Japan was third with 10,000 CGTs for one ship.
South Korean shipbuilders ranked second globally in total new orders for January, surpassed by China. According to the Clarkson Research Institute, South Korean shipyards were awarded new orders with an overall worth of 580,000 compensated gross tons, in order to build 12 ships. Japan came third with 13.69 million CGTs.
Japanese engineering company Mitsubishi Heavy Industries, Ltd. (MHI) announced the appointment of Seiji Izumisawa as new President and CEO, effective from 1st April 2019, and as a Chief Strategy Officer (CSO), a role he holds currently.
Japan has requested WTO dispute consultations with South Korea concerning alleged subsidies provided by the Korean government to its shipbuilding industry. Japan claims that the challenged measures, which include funds, loans, guarantees, insurance and other financing, are inconsistent with WTO’s SCM Agreement and the General Agreement on Tariffs and Trade (GATT) 1994.
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