Japan taps public-private funds for shipbuilding, eyeing next-generation vessels

Nippon Yusen and other companies aim to complete the world's first ammonia-fueled medium gas carrier for international shipping in November. Japan's public and private sectors are stepping up joint efforts to revive the nation's struggling shipbuilding industry. Last year, the transport ministry drew up a road map for revitalizing Japan's shipbuilding sector, setting a target of doubling shipbuilding volume by 2035 from the 2024 level. The plan calls for ¥1 trillion in combined public-and private-sector investment. In addition to capital spending, the road map aims to strengthen the industry as a whole by improving productivity through the use of robots and artificial intelligence technology, while also developing human resources. In a time of both misinformation and too much information, quality journalism is more crucial than ever.