Japan Draws Up Roadmap for Shipbuilding Sector Revival
Japan's transport ministry and the Cabinet Office announced on Friday (December 26) a roadmap for revitalising the country's shipbuilding industry, aiming to double annual ship output to 18 million gross tons by 2035 through sector realignment.
Japan's share of the global shipbuilding market has dwindled due to competition from China and South Korea.
The government now hopes to regain a share of around 20 per cent.
The roadmap calls for consolidating domestic shipbuilding companies into one to three groups by 2028.
It has already been decided that a vessel design firm jointly established by Mitsubishi Heavy Industries Ltd. and Imabari Shipbuilding Co. will receive investments from three major shipping companies.
The roadmap also calls for investing in vessels that carry crude oil and food and those that transport liquefied carbon dioxide, as well as next-generation ships that use ammonia fuel.
Shipbuilding is one of the 17 priority investment areas proposed by the administration of Prime Minister Sanae Takaichi.
At a press conference on Friday, transport minister Yasushi Kaneko said that the roadmap features "ambitious but achievable" goals.
[Copyright The Jiji Press, Ltd.]
