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.
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
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.
President Donald Trump's 'Big Beautiful Bill' earmarks more than $8.6 billion to increase the U.S. Coast Guard icebreaker fleet in the Arctic, where Washington hopes to counter rising Russian and Chinese dominance.The funding includes $4.3 billion for up to three new heavy Coast Guard Polar Security Cutters, $3.
▶ Medium-sized containerships to be built by 2028, supported by design, procurement, equipment, and strategic technology investmentHD Hyundai launched a strategic shipbuilding collaboration in the United States, signing with U.S.-based Edison Chouest Offshore (ECO) to establish a strategic and comprehensive partnership for the construction of U.S. commercial vessels.
U.S. shipbuilders and port operators are getting hit in the fallout from President Donald Trump’s campaign to wipe out the offshore wind industry, suffering hundreds of millions of dollars in lost government support, vanishing vessel orders, and an uncertain future for the billions of dollars' worth of investments.
Equinor, the developer of Empire Wind, has launched the Service Operations Vessel ECO Liberty on June 28 for deployment in its New York offshore wind project. Louisiana First Lady Sharon Landry served as the vessel’s “Godmother” during a christening ceremony on the Mississippi River at the Port of New Orleans.
In the last decade, changing U.S. Administrations have become increasingly tumultuous, as the swings in priorities and directives have a real, material impact on business. Read on for insights on the current and future of U.S. Offshore Wind.In the weeks preceding his late January inauguration
The Coast Guard gets its first new polar icebreaker in more than 25 years.The Coast Guard has accepted its first new polar icebreaker in more than 25 years, but it’s not really new. The 12,900-ton, 360-foot Anchor Handling Tug Support Ship (AHTS) Aiviq was acquired by the Coast Guard and renamed USCGC Storis (WAGB 21).According to a Coast Guard statement, “On Nov.
RAK Ports, a group of five ports located in the United Arab Emirates, has become the first in the region to achieve compliance with the Port Marine Safety Code (PMSC), the UK standard for port marine safety.Although RAK Ports operates outside of the UK, the principles of the PMSC draw on internationally recognized legislation and best practice for port marine safety management.
HD Hyundai is partnering with Germany's Siemens to accelerate the digital transformation and modernization of the U.S. shipbuilding industry.HD Hyundai and Siemens recently signed a Memorandum of Understanding (MoU) that aims to enhance the overall competitiveness of the US shipbuilding industry by improving design quality, minimizing production risks, enhancing quality, and reducing costs.
HD Hyundai Heavy Industries has secured a contract for the maintenance, repair and overhaul (MRO) of a U.S. Navy auxiliary ship — marking the first since the Korean government’s “Make American Shipbuilding Great Again (MASGA)” proposal.HD Hyundai Heavy Industries won the scheduled overhaul project for the USNS Alan Shepard, a 41,000-ton dry cargo and ammunition ship assigned to the U.S.