Tsuneishi Shipbuilding and Mitsui E&S Shipbuilding have confirmed that they will merge into a single shipbuilding entity, the third-largest in Japan in terms of volume of commercial vessel construction.
The merger will be finalised in October this year, when Tsuneishi completes its acquisition of a 49 per cent interest in Mitsui E&S.
Among the objectives of the joint firm is the development of new commercial vessels that will be powered by alternative low-emission fuels, the two companies told local media.
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