Mitsubishi Heavy Industries Ltd. (MHI) has renewed a technology licensing agreement on its low-speed, marine diesel engines with Hyundai Heavy Industries Co. (HHI), the world's largest shipbuilder and engine manufacturer, MHI said on July 18.
Through this licensing arrangement, MHI seeks to accelerate penetration of the Mitsubishi-UE engines in South Korea, which has a nearly 35-percent share in the world's shipbuilding market, and other countries.
It also aims to enhance its collaborative relationship with HHI to increased low-speed marine diesel engines' share in the global market.
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