Kawasaki reshuffles shipbuilding division

Technorati Tags: Baltic Dry Index,Baltic Dry Indices,Ship Chartering,Ship Charter,Shipchartering,Voyage Fixtures,Time Charter Fixtures,Panamax,Capesize,Handymax,Handysize,Supramax,Dry Cargo Fixtures,Bulk Cargo Fixtures,Baltic Exchange,Freight Review,Maritime Baltic Index,TNT Freight Review,Kawasaki shipbuilding,Shipyards slump,KSC,Kawasaki Heavy Industries,KHI,Shipyards

Tokyo: Kawasaki Heavy Industries (KHI) has announced that it will absorb Kawasaki Shipbuilding Corp. (KSC) effective October 1, 2010, exactly eight years after the latter was spun off in October 2002. The company aims to prepare for the impending business depression by returning the shipbuilding division, which has focused on the development of its interests in China, to the main organization and removing the restrictions in its being a subsidiary. [02/10/09]