Japan Shipbuilding: Potential LNG Carrier Resumption

Imabari Shipbuilding, Kawasaki Heavy Industries, and Namura Shipbuilding announced plans to resume joint construction of LNG carriers by 2035, supported by potential government subsidies. This move is seen as a positive development for captured shipbuilders to secure stable medium- to long-term replacement demand.

Key Takeaways

• 1.Imabari Shipbuilding, Kawasaki Heavy Industries, and Namura Shipbuilding plan to resume joint construction of LNG carriers around 2035.
• 2.The development represents a potential positive for Namura Shipbuilding (Buy) and Kawasaki Heavy Industries (Neutral) by capturing stable medium- to long-term replacement demand.
• 3.The Japanese government may support the initiative through introduction subsidies for shipowners via a Public-Private Investment Roadmap.

Table of Contents

• Japan Shipbuilding: Nikkei reports Imabari/KHI/Namura to resume LNG carrier construction; potential to capture stable medium to LT demand
• Price Target Risks and Methodology - Kawasaki Heavy Industries (7012.T)
• Price Target Risks and Methodology - Namura Shipbuilding Co.
• Disclosure Appendix

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