The shipbuilding industry faces a mixture of near- and long-term challenges. Competition remains fierce with the Japanese government offering incentives to the sector as restructuring continues, most recently between Tsuneishi Shipbuilding and Mitsui E&S Shipbuilding. Japanese exports of completed vessels fell by 31.2% year over year in April after an 8.9% slide in Q1’21. Shipbuilding orders are increasing though, with orders among the top 25 container lines reaching 19.6% installed capacity. Spending on environmental improvements is also underway. A recent example is the installation of...