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Business trends

Japan's shipbuilding industry turning corner as orders double

Mitsui Engineering and others ramp up construction with eye on Chinese, Korean rivals

Major Japanese shipbuilders swung back into action after historically low orders in 2016.

TOKYO -- Buoyancy appears to be returning to Japan's shipbuilders as order volumes for mainstay merchant vessels rose 150% in 2017, according to data released Wednesday.

With bulk freighters on a recovery trend, and fresh demand for environmentally friendly ships seen ahead, players such as Mitsui Engineering & Shipbuilding and Mitsubishi Heavy Industries are beefing up their construction frameworks, preparing to take on Chinese and South Korean rivals.

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