U.S. allies Japan and South Korea would battle to shortly ramp up shipbuilding to fulfill U.S. demand for alternate options beneath President Donald Trump’s plan to impose port charges on China-linked ships, a high Japanese delivery govt stated on Monday.
The Trump administration is drafting an govt order in a bid to revive home shipbuilding and weaken China’s grip on the trade.
Japanese shipbuilding is working close to full capability, with little scope for enlargement till 2028, whereas shipbuilders in South Korea, in addition to within the U.S., face monetary challenges, stated Takaya Soga, CEO of Nippon Yusen (NYK), Japan’s largest delivery line.
“The capability of Japanese shipbuilding is sort of full for the time being, till say 2028. So it’s not really easy for them to extend the capability,” Soga informed Reuters on the sidelines of the Singapore Maritime Week convention.
(Reuters)
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