Ambitious Japanese group Imabari Shipbuilding is set to construct a new drydock at its Marugame facility that will target the emerging market for ultra large containerships (ULCs).

It will be Imabari’s first new dock since it completed its Saijo yard in 2010. The move comes on the back of an improved trading market for Japanese yards (see page 48).

Imabari president Yukito Higaki first mentioned the new facility in his New Year address. “We are making progress on the plan to construct a large-scale facility at the Marugame yard,” he confirmed.

It is understood land has been secured for the project, which will be purpose built to compete with Asian rivals for ULCs.

Higaki-family owned Imabari is said to have secured orders for up to six 20,500-teu newbuildings, including options, from sister company Shoei Kisen.

Shoei is one of the two shipping companies that won a Mitsui OSK Lines (MOL)’s charter tender for ULCs. The other is Costamare of Greece (See Boxships, page 29).

Market players say plans for the new drydock has been in the pipeline for some time.

“Imabari has several yards under its wing but many are small and not efficient and productive,” said one source. “The construction of mega-containerships has been dominated by the Koreans and to be competitive, Imabari will need a new facility to be in the game. It probably believes that it can catch up with the Koreans very quickly and overtake them.”

The size of the dock has not been disclosed and company officials could provide no further details. But sources suggest it should be ready from 2016, as MOL is looking to take delivery of the 20,500-teu vessels during the first half of 2017.

Marugame currently has a 270-metre dock and is used to build aframax tankers, car carriers and post-panamax bulkers.

“We see it as a positive move made by Imabari in promoting Japanese shipbuilding,” said another market observer. “With the new facility, it can expand the types of vessel it can construct and be able it to achieve better efficiency and productivity, as the dock will be equipped with new technology and know-how.”

Imabari has been one of the country’s most progressive yards in recent years, having broken into the LNG carrier market and now the ULC space.

In his New Year speech, Higaki emphasised the group’s growth plans. He pointed out that Imabari had a successful year producing ships and winning new contracts, as well as expanding.

The group delivered 94 vessels totalling 4.3 million gross tons (gt) last year. It made its big-boxship debut in 2013 after winning an order for five 14,000-teu vessels from K Line. The owner has now doubled the tally of newbuildings to 10.

Some market pundits believe Imabari will shift some of those ships from its Hiroshima yard to Marugame.

Imabari fully integrated Koyo Dockyard under its direct management last year. It also took over Tsuneishi Shipbuilding’s Tadotsu facility and will manage the yard from this year.

The company was founded in 1905 and started off constructing wooden vessels. Today, it has nine yards under its control, of which Saijo is the showcase. It is said to be the first yard in the world to have installed three giant goliath cranes on a single drydock to increase productivity and efficiency.

source:www.tradewindsnews.com