Tsuneishi Holdings has outlined a new strategic plan to help it survive the tough shipping market.
The Japanese shipbuilder and shipowner has launched a three-year plan to develop a next-generation ship model to respond to current market needs.
It said that its energy-saving models are attracting attention from shipping companies that own either bulkers or tankers.
Tsuneishi has also intensified its efforts to nurture human resources in China and the Philippines.
Its shipowing division, Kambara Kisen, has formed a new alliance with Shanghai Haihua Shipping for the Taiwan route.
Tsuneishi saw its sales for 2015 fall by 18% to JPY 238.3bn ($2.17bn) as a result of the shipping markets slump.
The company is also working on enhancing its treatment facilities in Japan and is introducing new recycling initiatives.
