Mitsubishi to re-launch shipbuilding

Mitsubishi Heavy Industries will return to building large passenger ships next year for the first time since it suspended such operations after an October 2002 fire on a vessel under construction.

Amid soaring popularity in Europe and the US for cruise vacations, demand for new construction of large passenger ships is expected to total about 30 vessels over the next three to four years. Mitsubishi Heavy will begin taking orders next year for large cruise ships with more than 1,000 cabins costing about US$873 billion each. US cruise operator Carnival and others are said to have approached Mitsubishi with interest in placing shipbuilding orders.

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