Market Chatter: US Explores Military-Civilian Shipbuilding Collaboration with Japan

MT Newswires Live
Yesterday

US Navy Secretary John Phelan revealed plans to discuss dual-purpose shipbuilding strategies with Japanese officials during his current visit to Tokyo, Nikkei Asia reported Monday, citing an interview with the US official.

Phelan emphasized the need to evaluate all possibilities for enhancing bilateral defense capabilities, particularly as a deterrent against China's growing maritime influence, according to the report.

The proposed approach would involve constructing commercial vessels with potential military applications, a concept known as dual-use shipbuilding, the report said.

Phelan is scheduled to present this initiative directly to Japanese Defense Minister Gen Nakatani during their Monday meeting, following his Sunday evening arrival in Japan, the report added.

The shipbuilding market in Japan is dominated by major players such as Mitsubishi Heavy Industries(TYO:7011), Kawasaki Heavy Industries (TYO:7012), and Japan Marine United.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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