TOKYO -- Seeking a way to better compete against South Korean and Chinese rivals, Japanese shipbuilder Tsuneishi Shipbuilding will take a 49% stake in a bulk carrier and tanker unit of Mitsui E&S Holdings under a capital tie-up announced Friday.
Tsuneishi, which is based in Hiroshima Prefecture and operates shipyards in China and the Philippines, will acquire the interest in Mitsui E&S Shipbuilding on Oct. 1.
