MHI and Hakata Shipbuilding Agree on Collaboration in Joint Deve

MHI and Hakata Shipbuilding Agree on Collaboration in Joint Development of
High-performance 1,000 TEU Container Carrier 
- 2 Vessels Already Ordered for Charter by KMTC, Korea - 
Tokyo, Mar 18, 2013 - (JCN Newswire) -  Mitsubishi Heavy Industries, Ltd. (MHI)
and Hakata Shipbuilding Co., Ltd., of Imabari, Ehime Prefecture, have agreed to
collaborate in the joint development of a 1,000 TEU (twenty-foot equivalent
unit) container carrier. On March 18 the two companies received the first order
for the carrier, for two vessels to be used for time chartering by Korea Marine
Transport Co., Ltd. (KMTC) of Korea. The collaboration between MHI and Hakata
Shipbuilding targets the development of a new fuel-efficient, high-performance,
high-quality, low-cost vessel. Going forward the two companies intend to
establish a framework advantageous for competing in the international feeder
container ship* market, as a way of expanding their businesses. 
Under the collaborative agreement, MHI will be responsible for hull form
development and conceptual design of the container carrier while Hakata
Shipbuilding will undertake aspects from the basic and detailed design through
actual ship construction. The first two ships are slated to go into service
sequentially from October 2014. 
The first order for the new carrier was achieved as a result of technological
collaboration between MHI and Hakata Shipbuilding, with cooperation provided by
Mitsui & Co., Ltd. KMTC gave high marks to the new container carrier for
its superiority in loading capacity and outstanding fuel efficiency compared to
regular 1,000 TEU container ships. 
MHI is widely recognized as a pioneer in the container carrier construction
industry, its reputation backed by an abundant delivery record. Hakata
Shipbuilding has earned high evaluations in the 1,000 TEU class feeder
container ship market for the excellent performance and quality of its
offerings. 
MHI has adopted a long-term strategy for its shipbuilding and ocean
development business to focus on high-value-added vessels and to strengthen its
engineering operations by providing proprietary technologies to other companies
both in Japan and abroad. Hakata Shipbuilding has been seeking to obtain
advanced container ship-related technologies, including energy-saving features.
The intentions of the two companies thus meshed and led to the conclusion of
the collaboration agreement. 
Going forward the two companies will further strengthen their proactive drive
to create demand for new high-performance container carriers in Japan and other
countries by combining MHI's technological development capacity with
Hakata Shipbuilding's superior shipbuilding technology and operational
experience in feeder container carriers. 
*A feeder container carrier is a small-sized container ship that transports
containers on feeder lines that large-size container carriers servicing main
water routes cannot handle. Feeder ships primarily perform domestic
transportation between main and local ports or international transportation
between neighboring countries. 
About Mitsubishi Heavy Industries 
Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one
of the world's leading heavy machinery manufacturers, with consolidated
sales of 2,820.9 billion yen in fiscal 2011, the year ended March 31, 2012.
MHI's diverse lineup of products and services encompasses shipbuilding,
power plants, chemical plants, environmental equipment, steel structures,
industrial and general machinery, aircraft, space rocketry and air-conditioning
systems. For more information, please visit the MHI website at www.mhi.co.jp. 
Contact: 
Mitsubishi Heavy Industries
Hideo Ikuno
h.ikuno@daiya-pr.co.jp
+81-3-6716-5277 
Copyright 2013 JCN Newswire. All rights reserved. www.japancorp.net 
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