Japan’s three major shipping lines — Nippon Yusen Kaisha, Mitsui OSK Lines, and Kawasaki Kisen Kaisha — are joining forces with the country’s top shipyards in a push to reinvigorate domestic shipbuilding. According to Nikkei Asia, the trio will invest in MILES, a Tokyo-based design company jointly owned by Mitsubishi Heavy Industries (51%) and Imabari Shipbuilding (49%).

The move aims to standardise bulk carriers and revive domestic LNG carrier construction, which has largely moved overseas. Observers note parallels with China’s SDARI system, where centralised, government-backed ship design accelerates standardisation and efficiency.

The investment dovetails with a wider government-led plan to modernise Japanese shipyards. Among many stimulus measures announced last week, the new government led by Sanae Takaichi is calling for a 10-year, roughly Y1trn ($6.4bn) public-private fund to build capacity, with a goal of doubling shipbuilding volume by 2035 compared with 2024.

For decades, Japan led global shipbuilding, peaking at 50% of output in the 1990s. Today, its share has slid to roughly 10%, dwarfed by China (70%) and South Korea.