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
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.
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.
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
Eastern Shipbuilding Group received the Notice to Proceed from Washington State Ferries (WSF) to build two with an option for an additional 160-vehicle hybrid-electric ferries for the State of Washington. This milestone follows the first competitive bid for ferry construction in more than 25 years for the nation’s largest ferry system.
The Philippines expressed serious concern on Tuesday over what it described as "dangerous manoeuvres and unlawful interference" by Chinese vessels during a coast guard supply mission for Filipino fishermen in the Scarborough Shoal on Monday."Their actions not only posed a grave danger to Philippine personnel and vessels
Britain's Prince William on Sunday called on world leaders and businesses to take urgent action to protect the planet's oceans, saying it was a challenge "like none we have faced before."Speaking ahead of the U.N. Ocean Conference, which begins in France on Monday, William said rising sea temperatures
International nonprofit organisation Freedom Flotilla Coalition (FFC) said one of its vessels left the Italian port of Catania on Sunday, heading for Gaza to deliver humanitarian aid, after a previous attempt failed due to a drone attack on a separate ship in the Mediterranean.The crew of volunteers, including climate activist Greta Thunberg and Irish actor Liam Cunningham
Benny Cenac Jr.’s Houma based Main Iron Works Company has completed the 10th boat newbuild for Ingram Marine Group. This partnership with Main Iron Works and Ingram began in 2021 and included the construction of 10 new towboats to be completed by the end of 2024. The first towboat, the Adrienne M.
As global reliance on subsea infrastructure grows, so do the risks. Discover how safeguarding undersea assets opens new frontiers for innovation and investment.Importance of Subsea InfrastructureSubsea infrastructure plays a critical role in maintaining the operational continuity of the modern society and the global economy.
Italian shipbuilder Fincantieri on Thursday raised its full-year forecast on revenue to "above" 8 billion euros ($8.43 billion), from "about" previously indicated, boosted by all business segments.The Trieste-based vessel maker reported a nine-month core profit (EBITDA) a 19% rise to 328 million euros, while its January to September revenue stood at 5.58 billion euros, up 3.7% yearly.
Yemen's Houthis said on Sunday they would maintain their maritime blockade against Israeli vessels in response to "intelligence information" regarding Israeli shipping companies selling their assets to other companies.The Iran-aligned Houthis have said they are intensifying their attacks to support Hamas and Hezbollah in their resistance against Israeli actions in the region.