Foreign Media: Japan's Shipbuilding Industry Consolidation and Revival, Trying to Challenge China's Dominance
Japan is pushing forward the largest shipbuilding industry consolidation plan in decades, attempting to revitalize its $2.1 billion shipbuilding industry through mergers and the establishment of a $70 billion national fund.
The largest shipbuilder in Japan, Imabari Shipbuilding, has decided to acquire 60% of shares in Japan Marine United Corporation. After the merger, it will become the fourth-largest shipbuilding company in the world, competing against China's CSSC and South Korea's Hyundai Heavy Industries.
The Japanese government plans to establish a 1 trillion yen public-private partnership fund to build a "National Shipyard" to counter China's dominance, which accounts for 70% of global ship orders. Due to labor shortages and space constraints, Japan's shipbuilding capacity is difficult to expand, and its global order volume last year accounted for only 6.7%. The United States supports the enhancement of Japan's shipbuilding capabilities and is considering restricting Chinese-made ships from docking in the U.S. The president of Imabari Shipbuilding hopes to increase Japan's market share to 20% by 2030 and take the lead in low-emission ships such as ammonia and methanol fuel ships.
Original article: https://www.toutiao.com/article/1836895376816456/
Statement: This article represents the views of the author himself.