Japanese shipbuilder Mitsubishi Heavy Industries is mulling an alliance with three other shipbuilders to revive the sluggish sector and give it an edge over its rivals South Korea and China, Nikkei reported Wednesday.

A successful alliance with Oshima, Namura and Imabari is expected to create the second-largest tonnages, behind the world’s No.1 shipbuilder Hyundai Heavy Industries.

Hyundai tops the global shipbuilding market with 6.2 million tons of ships in 2015, according to a Nikkei report based on data from Japan’s Transport Ministry.

Hyundai’s two affiliate dockyards -- Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard -- came in at third and sixth.

Daewoo Shipbuilding and Marine Engineering is currently the world’s second largest with 3.6 million tons, while Samsung Heavy Industries came in fourth with 3 million tons.