Steel Ltd, Japan's fourth-biggest steelmaker, said it would spend 30 billion yen ($300 million) to boost its production capacity of marine crankshafts amid strong demand for ships, according to a report on http://economictimes.indiatimes.com.
Demand for crankshafts used in tankers, bulk carriers and other ships remains extremely tight due to a strong flow of orders for ships from emerging economies, with Japanese, South Korean and Chinese shipbuilders holding three to four years' worth of back orders.
Kobe is the world's top producer of large crankshafts used in tankers and other big ships. Kobe will introduce a new production line at its Takasago Works in central Japan, raising production capacity of crankshafts by 40 to 50 per cent by April 2010 from the current level, the company said. (Source: http://economictimes.indiatimes.com)