MHI to Refocus on Luxury Shipbuilding

According to a June 3 report from The Daily Yomiuri, Mitsubishi Heavy Industries, Ltd. plans to refocus on luxury passenger shipbuilding after a 10-year stretch in which the company did not receive any orders, company sources said. To secure orders for cruise ships, a team of about 700 shipbuilding designers will develop vessels with eco-friendly features. The team will work out of Nagasaki Shipyard and Machinery Works, its main construction site. According to the article, in five years, capacity in the global shipbuilding industry is forecast to exceed demand by three times in what is known as the 2015 problem.

(Source: The Daily Yomiuri)