Japan's Mitsubishi Heavy Industries has signed alliance agreements with compatriot shipbuilders Imabari Shipbuilding and Namura Shipbuilding.
The alliance aims to pool resources and improve the shipbuilders' competitiveness as yards worldwide struggle to win new orders amid overcapacity and a challenging freight market in several segments.
The agreement cover a variety of core issues, including: development of new ship designs and innovative technologies, sharing of designs and workforce, standardization of engineering tools and fitting equipment, and flexible application of each partner’s construction capabilities.