Mitsubishi Heavy to enter European luxury ferry market

Mitsubishi Heavy Industries Ltd. will enter the luxury ferry market in Europe as part of the restructuring of its ship-building business.

Its Mitsubishi Shipbuilding Co. subsidiary will expand production facilities at two shipyards in Shimonoseki and Nagasaki in western Japan to prepare for orders from Europe, President Koji Okura said Monday in an interview with Kyodo News.

(Koji Okura, president of Mitsubishi Shipbuilding)

«We are looking at the European market. We must win there in price and performance (of upscale ferries),» Okura said.

While the company has already started marketing operations in Europe, it is also considering targeting the luxury ferry market in Asia in the near future, Okura added.

Mitsubishi Heavy spun off Mitsubishi Shipbuilding as a separate, wholly-owned entity in January, as part of a restructuring that included withdrawing from the loss-making large passenger ship business.

As demand is growing for various types of ferries in Europe, Mitsubishi Shipbuilding plans to focus on ferries with luxury interiors that carry passengers and vehicles.

The Mitsubishi Heavy group plans to begin building ferries at in Nagasaki by the end of March 2021. The group currently builds liquefied natural gas ships at the shipyard.

Mitsubishi Heavy aims to boost sales in the shipbuilding business to 200 billion yen ($ 1.8 billion) over the next decade, up from about 100 billion yen in the last fiscal year, which ended March 2018.

All — Kyodo News+

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