The official start of operations of a new joint venture company formed between Japan's two largest shipbuilders has been scheduled for January 1, 2021.
Both Japan Marine United (JMU) and Imabari Shipbuilding claim the Nihon Shipyard joint venture has received the necessary approvals from the country's competition authorities and is set to commence operations early in the new year.
The two companies earlier announced the formation of the JV in 2019. JMU and Imabari will have 49 per cent and 51 per cent ownership, respectively.
Nihon Shipyard will be headquartered in Tokyo and will specialise in building all types of commercial vessels with the exception of LNG tankers.