FAIRFIELD-Maxwell is returning to the Japanese shipping industry nearly two years after selling its chemical tanker operations, launching Fairfield Maritime Japan with a Tokyo office focused on ship construction, ownership and leasing.

The New York-based family investment firm said it will target chemical tankers, medium range product tankers, gas carriers and newbuildings through the new venture, which forms part of a broader Fairfield Maritime Group alongside existing Marshall Islands subsidiary Fairfield Maritime Holdings.

Fairfield-Maxwell traces its shipping roots to 1957 when founder Keiichi “Kay” Sugahara began brokering crude oil shipments to Japan, later expanding into shipbuilding and leasing.

The company sold subsidiary Fairfield Chemical Carriers to MOL Chemical Tankers about two years ago, ending operations of a fleet that peaked at around 40 stainless steel chemical tankers.

“Fairfield Maritime Japan will build upon the Fairfield/Sugahara tradition of excellence in shipping,” said Byron Sugahara, the founder’s descendant and current board chairman.

The venture will be led by Ryuichi Osonoe, a 40-year veteran of Iino Lines, who served as director and senior managing executive officer until reaching mandatory retirement age in 2024.

Mitsuhiro Okamoto, who spent 13 years in finance roles at the former Fairfield Japan operation before its dissolution, returns as vice president and chief financial officer.

Fairfield-Maxwell chief executive Anthony Dowd said the experienced management team would “kick start our return to the Japanese shipping industry” as the company sought to become a preferred tonnage provider.

The relaunch comes as container shipping margins have plunged to their worst levels since 2023, though tanker markets have shown more resilience.

Fairfield-Maxwell operates as a third-generation family office with investments spanning oil and gas services, franchised business services, construction and building materials beyond its maritime focus.