Philly Shipyard News

The South Korean-owned Philly Shipyard in the United States does not currently have the capability to build a nuclear-powered submarine, Prime Minister Kim Min-seok said on Thursday during a parliamentary hearing.His remarks come after U.S. President Donald Trump wrote on social media last week that he had given approval for South Korea to build a nuclear-powered submarine and that it would be built in the Philadelphia shipyard.Trump posted the comment on his Truth Social platform after South Korea's President Lee Jae Myung asked him during a summit to let his country…

Maritime industry leaders explored the opportunities and critical challenges in the revitalization of U.S. shipbuilding and maritime infrastructure at the ABS North America Regional Committee Meeting.The committee heard from ABS specialists on key regulatory, technology and market factors driving a wave of change for the global industry, making training to upskill seafarers in dynamic fuels, digital systems and energy efficiency technologies more important than ever.Christopher J.

China's sanctions on U.S.-linked units of shipbuilder Hanwha Ocean threaten to impact ambitious plans for shipbuilding cooperation between Seoul and Washington by disrupting supplies of Chinese equipment and materials, officials in Seoul said on Friday.Beijing announced the sanctions on Tuesday as the U.S. and China began charging additional port fees on each other's vessels, in the latest exchange in a protracted trade war ahead of a planned meeting of the two countries' leaders.South…

China's sanctions against five U.S.-linked affiliates of South Korean shipbuilder Hanwha Ocean are seen as a warning gesture without immediate impact, and Beijing is unlikely to gain much by expanding them, analysts said on Wednesday.The move, announced on Tuesday when the U.S. and China began charging additional port fees targeting each other's vessels, comes ahead of an expected meeting between U.S. President Donald Trump and Chinese leader Xi Jinping in late October to resolve…

China announced sanctions on Tuesday against five U.S.-linked subsidiaries of South Korean shipbuilder Hanwha Ocean amid trade tensions between the world's two largest economies, sending the company's shares sharply lower.The move, announced by the Chinese commerce ministry, comes on the day that China and the U.S. implement additional port fees targeting each others' vessels, although China has exempted ships it built.Organisations and individuals within China are prohibited from engaging in any transactions…

The U.S. and China on Tuesday began charging additional port fees on ocean shipping firms that move everything from holiday toys to crude oil, making the high seas a key front in the trade war between the world's two largest economies.A return to an all-out trade war appeared imminent last week, after China announced a major expansion of its rare earths export controls and President Donald Trump threatened to raise tariffs on Chinese goods to triple digits.But after the weekend…

South Korea's HD Hyundai Heavy Industries is in talks with multiple companies about buying a U.S. shipyard, a senior company executive said, seeking to tap into President Donald Trump's push to revive America's ailing shipbuilding industry.The world's largest shipbuilder based on orders is targeting 3 trillion won ($2.2 billion) in annual revenue by 2035 from building warships for the U.S. Navy, said Woo-maan Jeong, head of planning and management for HD Hyundai's 329180.KS naval and special ship unit…

Hanwha Group has announced a $5 billion infrastructure plan for Hanwha Philly Shipyard as part of South Korea’s commitment to supporting growth of the U.S. shipbuilding industry through a $150 billion investment fund.The $5 billion program will be dedicated to the installation of two additional docks, and three quays to increase capacity. Hanwha is also reviewing the build-out of a new block assembly facility.Through this expansion, Hanwha aims to increase Philly Shipyard’s annual production volume from less than two vessels to up to 20.

The U.S. Maritime Administration (MARAD) has celebrated the christening of the State of Maine, the third of five National Security Multi-Mission Vessels (NSMV), at Hanwha Philly Shipyard.Built for Maine Maritime Academy, the State of Maine will serve as a next generation training ship, supporting both the academic development of cadets and America’s humanitarian relief.MARAD is replacing aging training vessels from the National Defense Reserve Fleet with new, purpose-built ships…

Business Korea reports that Hanwha Ocean plans to invest an additional minimum of $70 million in Philly Shipyard.The aim is to increase productivity to 10 ships per year by 2035, up from the current rate of 1 to 1.5 ships per year.Hanwha Ocean acquired Philly Shipyard in December last year for $100 million and renamed it Hanwha Philly Shipyard.Hanwha seeks to build on the success of Philly Shipyard, established in 1997, that delivered around 50% of all large ocean-going U.S. Jones Act commercial ships since 2000…

China’s share of the tanker orderbook rose from 32.4% in 2022, to 62.6% in 2023 and then 71.2% in 2024. Its share of the container ship orderbook has shown a similar growth trajectory. The nation has ranked first in the world for new orders since 2012. Labor costs are about half of what they are in Korea and Japan, and China is the world’s cheapest steel manufacturer.Niels Rasmussen, Chief Shipping Analyst at BIMCO, says that during the past five years Chinese shipyards have built 50% of the ship capacity delivered, and Chinese shipyards now hold 66% of the ship capacity in the orderbook.

The military and Coast Guard budgets are established that will benefit the U.S. ship building and repair sector, but what will stimulate the commercial yards?This author has been scratching his head of late, after a thrilling dive into July’s U.S. Big Beautiful Bill Act, and has asked several colleagues where the funding for support commercial shipbuilding can be found? To answer that, we need to look elsewhere and to future programs.Setting the SceneMany column inches have been dedicated to the decline U.S. shipbuilding, whether signaled by the relatively small presence of a U.S.

South Korean Finance Minister Koo Yun-cheol said on Tuesday he would seek a mutually beneficial trade deal when he meets U.S. Treasury Secretary Scott Bessent for talks this week, just days before an August 1 deadline expires to avoid punishing tariffs.Speaking at the airport before departing for Washington, Koo said he would propose at Thursday's meeting a "program" South Korea had prepared and consult on areas where they could cooperate in the mid-to-long term, such as shipbuilding.South Korea's Hanwha Group…

South Korea and the United States havehttps://www.marinelink.com/news/hanwha-build-usflagged-lng-carrier-528214 been discussing a shipbuilding tie-up that could include investments to modernize U.S. shipyards and more help to repair the U.S. naval fleet as Seoul seeks better tariff terms, government and industry sources said.U.S. President Donald Trump, who has made revitalizing the aging U.S. shipbuilding industry a priority to keep up with China, has repeatedly raised the idea…

Great Lakes Dredge & Dock Corporation, the largest provider of dredging services in the United States, has launched the first U.S. flagged, Jones Act-compliant subsea rock installation (SRI) vessel, named Acadia, at Hanwha Philly Shipyard.The Acadia vessel is engineered to transport and precisely install up to 20,000 metric tons of rock on the seabed.The rock provides critical scour protection for subsea infrastructure including subsea cables for power transmission, telecommunications cables…

Hanwha Shipping, a U.S. subsidiary of Korean shipbuilder Hanwha Ocean, on Tuesday said it ordered an LNG carrier valued at roughly $252 million from its own Pennsylvania-based unit Hanwha Philly Shipyard.Under the agreement, the ship will be built in Korea and flagged in the United States. It is slated for delivery in the first half of 2028.The deal comes as the United States works to revive domestic shipbuilding and expand its fleet of commercial and military vessels. Hanwha…

Matson Navigation Company’s three new 3600 TEU Aloha Class containerships, the largest container ships built in the United States, will use Kongsberg Maritime Hybrid Electrical Systems that incorporate Corvus Energy Orca ESS, the ships designed by KOMAC.With a carrying capacity of 3,600 TEU, the 854-ft (260-m) containerships are the largest of the type being built in the U.S. Matson is expanding its fleet of two Aloha Class vessels with the addition of three, new Jones Act-compliant container ships.The vessels will feature a next-generation…

As tariffs and trade wars continue to unsettle markets globally, some astute companies are moving to fill the void. One is South Korean shipbuilder Hanwha Ocean, which according to a report by Bloomberg is moving to build the LNG tankers in the United States, responding to new policy recommendations from the U.S. Trade Representative (USTR) aimed at curbing China’s dominance in global shipbuilding.The USTR proposal, unveiled Thursday, includes tariffs on Chinese-built vessels calling at U.S. ports following a six-month transition period. It also calls for LNG carriers that export U.S.

With your first steps as a cadet onto the Maritime Academy campus, your first union dues payment or first line thrown ashore from the tug, you are lectured on the importance of the “Jones Act”. A constant reminder throughout a US Seafarer’s career of commitment, loyalty and support for the legislation. All in the name of National Security, US Job protection and the advancement of the US Flag Merchant Marine. It is a massive and expensive lobbying effort witnessed throughout generations at sea. The effort has been historically successful.

TOTE Services, LLC and Hanwha Philly Shipyard, Inc. marked a milestone in U.S. shipbuilding with the keel laying of the fifth and final vessel in the National Security Multi-Mission Vessel (NSMV) program. Commissioned by the U.S. Department of Transportation’s Maritime Administration (MARAD), the NSMV program is designed to provide top-tier training for future mariners while supporting humanitarian assistance and disaster relief efforts. The vessels are being built to replace aging training ships at five state maritime academies…

The domestic passenger vessel answers the call for cleaner and more efficient platforms. It is truly an electric time to be a part of this niche industry.In the shadow of a rapidly changing political landscape, the domestic passenger ferry sector is nevertheless seeing an increasing number of newbuild vessel orders. Older fleet vessels, some approaching financial and operational obsolescence – also environmentally undesirable on a waterfront that more than ever demands cleaner carbon signatures – are going the way of the dinosaur.

Four students from the U.S. Merchant Marine Academy (USMMA) – Draygan Colonese, Elizabeth Kay, Charles Lausten and Gianna Russo – have been awarded Thomas B. Crowley Sr. Memorial Scholarships in recognition of their success and commitment to careers in the maritime industry.They were selected based on their academic achievements and performance during the cadet training periods aboard Crowley-operated or -managed vessels.Colonese, a senior from Colorado Springs, Colorado, is pursuing a degree in maritime logistics and security.

The bipartisan, bicameral bill will fuel U.S. economy, strengthen national security by responding to China’s threat over the oceans. Currently, the number of U.S.-flagged vessels in international commerce is 80; China has 5,500.Today, Senator Mark Kelly (D-AZ), Senator Todd Young (R-IN), Representative John Garamendi (D-CA-8), and Representative Trent Kelly (R-MS-1) introduced the Shipbuilding and Harbor Infrastructure for Prosperity and Security (SHIPS) for America Act, comprehensive legislation to revitalize the United States shipbuilding and commercial maritime industries. After decades of neglect, the United States has a weakened shipbuilding capacity, a declining commercial shipping fleet that is dwarfed by China, and a diminished ability to supply the U.S. military during wartime.