Philadelphia: Hanwha Philly Shipyard, owned by South Korea's Hanwha Group, is contemplating a bid for the U.S. Navy's combat support ship construction project, as confirmed by the group. At a recent media briefing in Philadelphia, the shipyard's CEO, David Kim, stated that Hanwha is engaged in "discussions" to participate in the project.
According to Yonhap News Agency, an additional U.S. defense budget exceeding US$20 billion has been sanctioned for the construction of combat and support ships. Kim noted that the Senate and House of Representatives are currently deliberating on the execution of this funding. Some of the planned combat support ships align with Hanwha's capabilities, which fuels the company's ambition to secure the bid. Kim further mentioned that the company is in the process of preparing necessary documents for submission to the U.S. Navy and gearing up for the bidding phase.
Hanwha Group acquired Philly Shipyard Inc. for $100 million last year, aligning with its global expansion strategy. This acquisition not only marks Hanwha's entry into the market for building 3,600 TEU liquefied natural gas-powered container carriers and LNG ships but also reflects its aspiration to secure contracts for supplying components for U.S. Navy vessels and potentially undertaking the construction of Navy ships in the future.
Lee Jong-moo, head of Hanwha Philly Shipyard, emphasized that the U.S. defense budget mainly targets combat ships, nuclear submarines, and aircraft carriers. However, he highlighted the necessity for support ships to accompany attack vessels. He pointed out that U.S. support shipbuilding capabilities have lagged, prompting the consideration of orders with foreign shipyards if these ships can be constructed swiftly.
U.S. President Donald Trump has underscored the need to rejuvenate the U.S. shipbuilding industry and the significance of partnerships with allies, such as South Korea, known for its prowess in naval vessel construction. Earlier this year, U.S. Secretary of the Navy John Phelan visited Hanwha Ocean Co.'s shipyard in Geoje, south of Seoul, to discuss naval defense cooperation. Additionally, Donald Trump Jr. visited Seoul to meet with Hanwha officials, including Vice Chairman Kim Dong-kwan, to explore potential partnerships.