South Korea's Hanwha Group has agreed to acquire U.S. shipbuilder Philly Shipyard in a $100 million cash deal, the companies announced on Thursday.Under the deal, which is expected to close in Q4 2024, Hanwha Systems and Hanwha Ocean will purchase purchase of Philly Shipyard, Inc., the sole operating subsidy of Aker-owned Philly Shipyard ASA, based in Oslo.
The U.S. Department of Defense announced that Fincantieri Marinette Marine was awarded a contract valued at more than $1 billion to build the fifth and sixth Constellation-class Frigates for the U.S. Navy. FMM received the contract for the lead ship of the Constellation-Class in April 2020, and the Navy has since exercised five options for follow-on vessels.
A shortage of U.S. mariners presents a major threat to the United States’ national and economic security, and the problem is growing day by day.According to a 2017 study prepared by the Maritime Workforce Working Group and released by the U.S. Maritime Administration (MARAD), the estimated pool of U.S. mariners actively sailing with unlimited tonnage credentials was comprised of 11,768 mariners.
The U.S. Navy on Friday celebrated the keel laying of the lead ship of the Constellation class of guided-missile frigates, the future USS Constellation (FFG 62), at the Fincantieri Marinette Marine shipyard in Marinette, Wis.Secretary of the Navy Carlos Del Toro and Chief of Naval Operations Adm.
The international maritime industry, led by the International Chamber of Shipping, has joined together to express their concern for the seafarers from the Galaxy Leader who have been held hostage and call on the Houthis to release them.Monday February 19, 2024 marks the three-month anniversary since the Houthis seized the Galaxy Leader and its 25 seafarers in the Red Sea.
Japan's NYK Line said Thursday its NYK Bulk & Project Carriers Ltd. (NBP), Oshima Shipbuilding Co., Ltd. (OSHIMA), and Sumitomo Corporation (SUMITOMO) had signed a memorandum of understanding to study, design, and construct the world’s first Handymax bulk carrier (ammonia dual fuel type) dedicated to the transport of copper products, that will reduce CO2 emissions to zero.
Shipyards across the U.S. are investing in new equipment to increase lift capacity, opening up the door for more projects and improved efficiency.Southern California-based Marine Group Boat Works, which performs a mix of yacht, commercial and government vessel repair work, in 2022 repowered its 665-ton Marine Travelift mobile boat hoist—the largest on the West Coast—with a Tier 4 John Deere
Each year, criminals try to smuggle countless stolen vehicles through U.S. ports, attempting to load them onto merchant vessels for destinations overseas.The U.S. Customs and Border Protection (CBP) has been cracking down on these efforts. During fiscal year 2023 (Oct.1, 2022 – Sept.
The United States' Secretary of the Navy, Carlos Del Toro, on Monday hosted executives from major ship repair companies at the Pentagon for a roundtable discussion focused on surface ship repair and modernization initiatives.Navy and Marine Corps leaders have expressed that repair process improvements are critical to meeting the needs of worldwide combatant commanders.
The United States' Secretary of the Navy Carlos Del Toro is directing a comprehensive analysis of the Navy shipbuilding portfolio amid ongoing labor issues and supply chain shortages that have negatively impacted vessel delivery timelines.Del Toro tasked newly-confirmed Assistant Secretary of the Navy for Research
A new council aiming to improve the way U.S. government does business in ship acquisition and ship maintenance convened at the Coast Guard Yard in Baltimore on Thursday.In kicking off the inaugural meeting of the Government Shipbuilders Council (GSC), Secretary of the Navy Carlos Del Toro underscored the council’s mission to address common and singular challenges among those that contract in
Earlier this week, Secretary of the Navy (SECNAV) Carlos Del Toro along with U.S. Representatives Rob Menendez and Mikie Sherrill visited to Bayonne Dry Dock & Repair Corp. (BDD).As the U.S. places renewed emphasis on navy shipbuilding and ship repair, the SECNAV has made it a point to visit to naval bases, shipyards, depots, training ranges, tarmacs