Imabari and JMU tie up

Japan has responded to mega yard mergers in neighbouring South Korea and China. The country’s top two shipbuilders, Imabari Shipbuilding and Japan Marine United (JMU), are forming an alliance and will enter into a capital tie-up. Imabari will take a nearly 30% stake in loss-making JMU by purchasing new shares by the end of March. 

The two yards account for 40% of Japanese shipbuilding output and together would command a 10% global market share. 

In South Korea, Hyundai Heavy Industries is in the middle of a takeover bid for compatriot Daewoo Shipbuilding & Marine Engineering (DSME), while this week at Marintec China in Shanghai, delegates will get a first look at China Shipbuilding Group, the merger between CSSC and CSIC, which was completed last month. Both Korean and Chinese mergers will create shipbuilding giants with approximate 20% global market shares each. 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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