Tsuneishi Shipbuilding and Mitsui E&S Shipbuilding signed a joint venture agreement that aims to pool their resources in commercial shipbuilding.
The two Japanese yards say the deal, which was tipped in February, is "to attain continuous growth of the shipbuilding business through collaboration in building up design and development capacity, and cost competitiveness, and thereby obtaining more orders, while at the same time maintaining their respective independence in management."
