IHI Corp executive chairman Tamotsu Saito claims government subsidies to shipyards in the Far East are putting the sustainability of the shipbuilding market at risk.
Saito’s comments, which were made in his role as chairman of the Shipbuilders’ Association of Japan (SAJ), come after attempts to agree international trade rules for shipbuilding at the OECD collapsed late last year.
The Japanese government earlier claimed the OECD talks stalled because South Korea pulled out of an agreement on subsidies and pricing.
