Yamanishi Shipbuilding might have survived 2011’s tsunami, but the Japanese yard has not been able to swim against the tide of cheaper Asian rivals and plunging demand for newbuilds, filing this week for corporate rehabilitation at a court in Tokyo.
The handysize bulk carrier specialist was hammered by the tsunami that killed nearly 16,000 people nine years ago, with much of the facility flooded and a near-complete newbuild badly damaged. However, the yard was rehabilitated and its 150 staff eked out a living with a dwindling orderbook, which as of today stands at just one small roro due for delivery this year to a Japanese owner.
