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
St. Catharines, Ontario–based Algoma Central Corporation (TSX: ALC) reported a solid third quarter for 2025, marked by fleet milestones, steady revenue growth across segments, and ongoing investment in next-generation vessels.For the quarter ended September 30, Algoma posted revenue of C$228 million, up from C$205 million a year earlier, and EBITDA of C$89.7 million, a 19% increase year-over-year.
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.
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
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
Italian shipping firm Grimaldi Group has welcomed the second ammonia-ready pure car and truck carrier (PCTC), Grande Tianjin, from Shanghai Waigaoqiao Shipbuilding (SWS), a subsidiary of China State Shipbuilding Corporation Limited (CSSC).The delivery of a 9,000-car capacity PTCT built for Grimaldi Group also marks SWS's 600th vessel or offshore platform since its inaugural delivery, the 150
The U.S. Coast Guard welcomed the nearly $25 billion investment included in the One Big Beautiful Bill Act Friday — marking the largest single commitment of funding in service history. The investment strengthens every facet of Coast Guard operations and supports the Service's role as the Nation’s leading drug interdiction and maritime border security force.
Ordering of alternative-fueled vessels is continuing to grow in 2025, despite a slowdown in the overall newbuild market. According to data from DNV’s Alternative Fuels Insight (AFI) platform, new orders for alternative-fueled vessels reached 19.8 million gross tonnes (GT) in the first six months of 2025, exceeding the 2024 figure by 78%.
ASUKA III, said to be the largest Japanese-flagged cruise ship, has completed its first marine LNG bunkering by FueLNG Private at Singapore Cruise Centre.The bunkering milestone also marks Shell LNG's first supply to an LNG-powered cruise ship in the region, according to Singapore Cruise Centre.Asuka III is owned by NYK Cruises, a company of the Japanese shipping group NYK.
Hanwha Ocean has held a naming ceremony for its high specification ultra-deepwater drillship Tidal Action, signaling its official entry into the deepwater drilling industry.The Tidal Action is built on Hanwha Ocean’s proprietary design and is capable of drilling at depths of up to 12 kilometers in waters as deep as 3.6 kilometers.
The arrival of the dredger Willem Van Rubroeck in Ndayane has marked the start of maritime works for the $1.2 billion Port of Ndayane, a project led by Dubai-owned ports and logistics firm DP World, which aims to transform Senegal into a major center for global trade.The vessel will dredge a 5 km-long shipping channel - an essential step in building this high-capacity port designed to elevate