The Japan News News

Japan and Indonesia are planning to establish a new high-level bilateral maritime forum. The Japan-Indonesia Maritime Forum will discuss maritime cooperation., says a report in The Japan News. Under the new framework, Tokyo will support Jakarta’s efforts to protect its maritime sovereignty in the South China Sea and other areas. By deepening cooperation with Indonesia, which has strong influence over the Association of Southeast Asian Nations, and through multilateral participation, Japan hopes to counter China, which has been building military strongholds in the South China Sea. The forum will comprise meetings of relevant ministers of the two countries and working groups.

Hyundai Heavy Industries Co., the world’s biggest shipbuilder, plans to raise prices as demand for fuel-efficient vessels increases, reports the Japan News, citing Bloomberg, Singapore. Hyundai Heavy’s optimism helped drive up shares of South Korean shipbuilders Monday and contrasts with gloom over Chinese shipbuilders. A third of China’s yards may shut down in about five years as they struggle to win orders, an unamed industry group informed Japan Times. About 483 shipyards in China won $10.5 billion worth of orders in the first six months of this year, while 94 builders in South Korea got $18.5 billion, says the Japan Times citing Clarkson PLC.