Mitsui E&S Holdings fully withdraws from shipbuilding

As one of Japan’s oldest shipbuilders, having been established in 1917, Mitsui E&S Holdings enjoyed a shipbuilding volume that was once second only to that of compatriot Mitsubishi Heavy Industries.

In recent years, Mitsui E&S Holdings suffered losses year after year in competition with Chinese and Korean shipbuilders. The company was thus forced to cease shipbuilding activities.

Tsuneishi Shipbuilding had acquired 49 per cent of the outstanding shares of Mitsui E&S Shipbuilding in April 2021, and another 17 per cent of the outstanding shares in October the following year.