Japan has approved the first wave of shipyard investment plans worth about ¥600bn ($3.83bn) over roughly 10 years, according to Japan’s Ministry of Land, Infrastructure, Transport and Tourism.
The three projects cover eight Japanese companies and qualify for up to ¥213.1bn ($1.36bn) in government support through the Shipbuilding Industry Revitalization Fund. Imabari Shipbuilding, Tadotsu Shipyard and Steel Hub can receive up to ¥113.8bn ($727m).
Japan Marine United, JMU Amtec and Ariake Steel Center qualify for up to ¥49.4bn ($315m), while Namura Shipbuilding and Hakodate Dock can receive up to ¥49.9bn ($319m).
The support will run from fiscal 2026 through fiscal 2034. Investment will cover automation, labour-saving technology, production machinery, cranes and other shipyard infrastructure aimed at increasing hull-production capacity.
“Our efforts to revive the shipbuilding industry will finally start,” transport minister Yasushi Kaneko said. The projects are the first batch approved under the programme, with further investment plans expected to follow.
Japan is targeting about ¥1tn ($6.39bn) in public and private shipbuilding investment over the next decade. The fund is designed to provide about ¥350bn ($2.24bn) in support over 10 years, subject to progress reviews.
The country aims to increase annual shipbuilding capacity from about 9m gt to 18m gt by 2035.
Imabari Shipbuilding is a Japanese shipbuilder headquartered in Imabari, Ehime prefecture, producing containerships, bulk carriers, tankers, car carriers and other commercial vessels. The group has built more than 3,000 ships.
Yokohama-headquartered Japan Marine United was established in 2013 and designs and builds commercial ships, naval and patrol vessels and offshore structures.
Namura Shipbuilding is an Osaka-headquartered Japanese shipbuilder whose portfolio includes crude and product tankers, bulk and ore carriers and LPG carriers. Hakodate Dock is part of the Namura group.