Mitsubishi Heavy Industries has announced plans to stop building large cruise ships at its Nagasaki Shipyard after suffering heavy losses amid fierce competition from Korean and Chinese rivals. The company will switch its shipbuilding focus to mid-size cruise ferries and liquid natural gas tankers and aims to centralize the operations of its Shimonoseki (Yamaguchi Prefecture) and Nagasaki Shipyards. Meanwhile, it is also looking into the possibility of a tie-up with Ehime Prefecture-based Imabari Shipbuilding and Saikai City (Nagasaki)-based Oshima Shipbuilding. The pull-out will result in many lost jobs for Nagasaki, and both the Governor of Nagasaki Prefecture and Mayor of Nagasaki City have expressed their disappointment with the decision. Source: Travel Weekly, 10/24
