Image credit: The Maritime Executive.
Yangzijiang Shipbuilding and Tsuneishi, two leading shipbuilding companies from China and Japan, have deepened their partnership. Yangzijiang has acquired a 34% stake in their joint venture based in Zhoushan.
This move comes as China faces challenges in expanding shipbuilding capacity to meet rising demand. The Japanese company, Tsuneishi, is also looking to strengthen its position in the competitive shipbuilding market.
Yangzijiang and Tsuneishi have been working together since 2019 when they established the joint venture. The operation, Tsuneishi Zhoushan, focuses on building commercial ships like bulk carriers, containerships, and tankers.
With Yangzijiang’s increased investment, the joint venture aims to expand its research and development, shipbuilding capabilities, and supply chain. This will make them more competitive in the global market.