Mitsubishi Heavy Industries Ltd (MHI) (www.mhi.com) has reached a basic agreement with Oshima Shipbuilding Co Ltd (www.osy.co.jp) regarding the formation of an alliance regarding their commercial shipbuilding businesses.

The companies say they will seek “business synergy and target sustainable growth in order to strengthen business competitiveness in the global market, while also respecting mutual independence”.

The agreement will establish a technical alliance that will focus on the development of new ship designs and technologies, standardisation of design and construction, and efficient shared use of tools and equipment.

This development follows on from a previous agreement reached at the end of March with Imabari Shipbuilding Co Ltd and Namura Shipbuilding Co Ltd.