Imabari Shipbuilding and Japan Marine United (JMU) have postponed the start of their planned joint venture shipbuilding company after admitting they will miss the original 1 October target date.
The pair are now hoping to set up the new Nihon Shipyard joint venture on 1 November.
JMU and Imabari said the new partnership is still awaiting approval from competition authorities around the world.
Although the pair expected to be given the green light by now, the coronavirus pandemic has delayed the competition approval process.
The companies said that the original agreement, struck in March this year, has not changed.
The partnership involves Imabari buying a 30% stake in JMU, which itself has been formed through a process of consolidation among Japanese shipyards over the last 20 years.
Imabari will hold the majority 51% in Nihon Shipyard, but JMU executive Yoshinori Maeda has been named as the company president.
The move is intended to create a shipbuilding partnership that will be competitive enough to take on rivals in South Korea and China.
The initial plan is to combine design, marketing and procurement activities and to bid for major shipbuilding projects in partnership.
However, the pair are keeping LNG shipbuilding out of the new tie up.
The move has been seen as possibly laying the foundation for a merger between JMU and Imabari in the future although both shipyards have denied this.
However, both companies will be anxious to get the joint venture off the ground. Orderbooks at both yards are running dry during a drought in newbuilding orders caused by the pandemic.
