Shipping firm Nippon Yusen K.K., ship classification body Nippon Kaiji Kyokai and four midsize shipbuilders have established a joint research and development company, its president said Thursday.
The new firm, Maritime Innovation Japan, was set up to cut research costs in the face of oversupply and fierce competition from their Chinese and South Korea rivals, Masato Nobuhara said.
Maritime Innovation Japan, set up in April, started full operations Thursday and will study ship energy conservation technologies, marine energy use and shipping trends, Nobuhara said.
The four shipbuilders are Tsuneishi Shipbuilding Co. in Hiroshima Prefecture, Oshima Shipbuilding Co. in Nagasaki Prefecture, Sanoyas Shipbuilding Corp. in Osaka Prefecture and Shin Kurushima Dockyard Co. in Tokyo.