Mitsui E&S enters restructuring, 1,000 staff face the axe

Mitsui E&S enters restructuring, 1,000 staff face the axe

Japanese shipbuilder Mitsui E&S Holdings is slashing its workforce and pushing through a restructuring. Local financial newswire Nikkei is reporting the yard is about to lay off around 10% of its staff, while the company is expected to stop building commercial ships at its Chiba shipyard. The yard has two drydocks and has been operating since 1962.

Mitsui E&S is Japan’s seventh largest shipbuilder. Once the restructuring is complete with the loss of 1,000 jobs, the company is expected to focus on machinery, including ship engines, as well as equipment for offshore development.

Japan was the world’s largest shipbuilding nation through to the start of this century. In the last 19 years, the sector has undergone huge contraction amid strong competition from China and South Korea.

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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