By Rina Ukita and Shodai Niki / Yomiuri Shimbun Staff Writers

Major Japanese shipping companies Nippon Yusen K.K., Mitsui O.S.K. Lines Ltd. and Kawasaki Kisen Kaisha Ltd. plan to work with major domestic shipbuilders to develop next-generation vessels, sources said.

The three shipping companies will invest in a ship design company which is now owned by Mitsubishi Heavy Industries Ltd. and Imabari Shipbuilding Co. By cooperatively advancing the development of next-generation ships, the companies aim to compete with Chinese and South Korean rivals and help revitalize Japan's shipbuilding industry.

The ship design company in which Nippon Yusen, Mitsui O.S.K. Lines and Kawasaki Kisen will invest is called MILES Co. At present, ownership of the company is divided almost evenly between Mitsubishi Heavy Industries, which holds a 51% stake, and Imabari Shipbuilding, which has 49%. Imabari Shipbuilding is expected to transfer part of its shares to the shipping companies, according to the sources.

MILES was established in 2013 for purposes including designing and selling liquefied natural gas carrier ships. It currently designs next-generation vessels, such as ships that use alternative fuels like ammonia and methanol, as well as liquefied carbon dioxide carrier ships, which are used in carbon capture and storage efforts.

The new collaboration is expected to enable MILES to design next-generation vessels that meet all the needs of the three shipping companies, which will let them improve their efficiency in areas such as developing new technology. They expect to receive orders also from other domestic shipping companies.

The Japanese government has set a target of doubling the nation's annual shipbuilding volume by 2035 as part of its efforts to revive the domestic shipbuilding industry. On Nov. 21, the Cabinet approved the government's comprehensive economic measures, including a plan to establish a 10-year fund in the shipbuilding sector, aiming to achieve a total of about 1 trillion yen in public-private investment.

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November 27, 2025 06:35 ET (11:35 GMT)

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