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.
HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has conducted a steel cutting ceremony for a 115,000-ton product tanker at the HD Hyundai Philippines Shipyard in Subic Bay, Philippines.The vessel is the first ship built by HD Hyundai Philippines and is the first in a series of four vessels ordered from an Asian shipping company in December last year.
South Korea's HD Hyundai Heavy Industries, the world's biggest shipbuilder, said on Wednesday that it plans to merge with its affiliate HD Hyundai Mipo as it targets a bigger slice of the U.S. shipbuilding market.With the merger, the company said it aims to lead U.S.-Korea shipbuilding cooperation projects touted during a recent summit between the leaders of the countries that Seoul has dubbed
There are early signs that some Asian countries are stepping up their imports of U.S. liquefied natural gas (LNG) as part of trade deals with President Donald Trump.Asia's imports of the super-chilled fuel are on track to hit an eight-month high of 2.01 million metric tons in August, according to data compiled by commodity analysts Kpler.
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.
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.
Chinese shipyards’ market share has dropped from 72% to 52% in the first half of 2025 amid growing concerns over the impact of US Trade Representative (USTR) port fees on Chinese ships, according to the latest report from BIMCO, the world’s largest shipping association.USTR port fees, set to take effect in October 2025, will impact both Chinese owners and operators
Researchers in South Korea at the Korea Institute of Machinery and Materials (KIMM) have reportedly developed a hull-attached sensor-based system for predicting underwater radiated noise (URN), a key factor in naval stealth operations.KIMM Develops First Hull-Attached Sensor System for Predicting Underwater Radiated NoiseNew algorithm predicts underwater noise in real timeBoosts naval stealth
Korea's Hanwha aims to buy up to 9.9% of Australian shipbuilder Austal in an after-market offer following its failed A$1.02 billion ($646.17 million) takeover bid last year, a term sheet showed on Monday.Hanwha has offered A$4.45 each for 41.2 million Austal shares, showed the term sheet reviewed by Reuters.
CMA CGM Group has announced a $20 billion investment to contribute to U.S. maritime economy and support the transformation of America’s domestic supply chain over the next four years.The announcement builds on CMA CGM Group’s 35-year presence in the U.S. Today, the Group operates in 40 states and employs 15,000 Americans. As a leading partner in U.S.
U.S. proposals to hit Chinese vessels with high port fees would have a major impact on all firms in a container shipping industry in which most vessels are built in China, French-based shipping firm CMA CGM said on Friday.The U.S. Trade Representative's office has proposed charging up to $1.5 million for Chinese-built vessels entering U.S.
South Korean President Yoon Suk Yeol spoke with Donald Trump on Thursday and congratulated him on winning the U.S. presidency on the "Make America Great Again" slogan as officials in Seoul worked to prepare for "significant" economic changes.Yoon and Trump held a 12-minute phone call and discussed the close security and economic ties of their two countries across all areas