Posted to Maritime Reporter
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May 5, 2025
Hanwha Ocean, a South Korean shipbuilder, hopes to increase its revenue from overseas naval vessels to 4 trillion won (2.91 billion dollars) by 2030. It also hopes to receive more repair orders from U.S. Navy. After President Donald Trump's executive order to restore U.S.
Posted to Maritime Reporter
on
April 29, 2025
Petrobras, the Brazilian state-owned energy giant, said that it was looking to attract new Chinese investment to Brazil's oil, gas and naval sectors, particularly, on Tuesday as its Chief executive Magda Chambriard visited the Asian country.
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April 28, 2025
Maeil Business Newspaper reports that the state-run Korea Development Bank of South Korea plans to sell its Hanwha Ocean shares. The newspaper, without citing any sources, reported that KDB planned to divide its 19,5% stake in the shipbuilder after a bookbuilding on Monday.
Posted to Maritime Reporter
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April 28, 2025
On Monday, a senior South Korean official said that Seoul will not agree to a package of trade deals with Washington before the June 3 presidential elections. He also noted the challenges in reaching an agreement even by early July. Seoul's…
Posted to Maritime Reporter
on
April 28, 2025
On Monday, a senior South Korean official ruled out the possibility of a deal being reached with the United States before the presidential elections in the Asian nation on June 3. He also noted that reaching an agreement even by early July would be difficult.
Posted to Maritime Reporter
on
April 25, 2025
According to a congressional aide and a document, Republicans in the U.S. Congress are planning to introduce a sweeping 150 billion dollar defense package. This will provide an initial boost of $27 billion to President Donald Trump’s controversial Golden Dome shield missile defense system.
Posted to Maritime Reporter
on
April 24, 2025
Seoul's trade delegation announced after the first round in Washington that the United States and South Korea had agreed to create a package of trade measures aimed at removing any new U.S. duties before the reciprocal tariff pause is lifted in the month of July. Scott Bessent, U.S.
Posted to Maritime Reporter
on
April 24, 2025
Seoul's trade delegation announced that the United States and South Korea had agreed to develop a package of agreements aimed at removing any new U.S. duties before the reciprocal tariff pause is lifted in July. Scott Bessent, U.S. Treasury secretary…
Posted to Maritime Reporter
on
April 24, 2025
Treasury Secretary Scott Bessent described the U.S.-South Korea meeting as "very successful", after the two countries began trade negotiations with Seoul, which was seeking to reduce the tariffs that President Donald Trump wants to impose. Bessent…
Posted to Maritime Reporter
on
April 24, 2025
On Thursday, a South Korean delegation is expected to meet with U.S. counterparts for an initial round of trade negotiations. The agenda will likely include cooperation in shipbuilding, energy, and perhaps shared defence costs as Seoul seeks to lower tariffs. South Korea, facing 25% reciprocal U.S.
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on
April 21, 2025
Han Duck-soo, the acting president of South Korea, said that he expects the trade talks to begin this week with the United States in Washington. However he added that the negotiations may not be simple. Han stated that the South Korean ministers of Finance and Industry will meet U.S. Treasury Sec.
Posted to Maritime Reporter
on
April 10, 2025
As U.S. President Donald Trump’s tariffs begin to take effect, there are new questions about the sale of nuclear submarines to Australia as part of the AUKUS Treaty. Washington is also concerned that the sale to Canberra could reduce the deterrence against China.
Posted to Maritime Reporter
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April 9, 2025
Cheong In Kyo, South Korea's top Trade Envoy, said that President Donald Trump's tariff reprieve has provided room for negotiation as the country tries to reduce tariffs by talks. The trade ministry reported that Cheong had met with U.S. Trade…
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on
April 8, 2025
U.S. trade representative Jamieson Greer informed lawmakers on Tuesday that the proposed multimillion dollar fees for Chinese-built vessels docking at U.S. port may not be implemented in full and they might not be cumulative. Greer said at a…
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on
April 7, 2025
The companies announced on Monday that Huntington Ingalls, a U.S. military shipbuilder, and HD Hyundai Heavy Industries of South Korea have signed an agreement exploring opportunities to increase production for commercial and defense projects.
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on
April 2, 2025
Analysis of a satellite picture showed that North Korea's new warship class can accommodate dozens vertical launch cells for missiles the military has already developed. This would give their navy more power and create export opportunities.
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on
March 21, 2025
A poll conducted on Friday revealed that 72% of Americans said the U.S. could not remain dependent on China or other foreign shipbuilders. Morning Consult conducted a survey on March 10-12 of 2,204 adults for the Alliance for American Manufacturing.
Posted to Maritime Reporter
on
March 20, 2025
Hanwha Aerospace Co Ltd, South Korea's biggest defence company, announced on Thursday that it planned to increase its equity capital by 3.6 trillion won ($2.5billion) in order to expand overseas and domestic production. Hanwha said it "plans"…
Posted to Maritime Reporter
on
March 10, 2025
South Korea's acting President on Monday instructed authorities to communicate actively with the U.S. Administration to resolve any misunderstandings over tariffs. This comes after U.S. president Donald Trump singled out South Korea recently for applying high tariffs.
Posted to Maritime Reporter
on
March 5, 2025
On Tuesday, U.S. president Donald Trump informed Congress that his administration would create a shipbuilding office in the White House as well as offer new tax incentives to the sector. In a late-night address on Tuesday, Trump announced that…
