Hanwha Expands U.S. Shipbuilding with $5 Billion Philly Shipyard Upgrade

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Mfame Editor
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  • Hanwha Group announced a $5 billion infrastructure program to expand Hanwha Philly Shipyard under South Korea’s broader $150 billion U.S. shipbuilding initiative.
  • The company’s U.S. subsidiary placed orders for 10 MR oil and chemical tankers and confirmed a second LNG carrier to support the U.S. Jones Act fleet renewal.
  • The expansion is expected to boost annual shipyard capacity, generate skilled jobs, and strengthen U.S.–Korea collaboration in shipbuilding.
  • Hanwha aims to leverage synergy between Hanwha Ocean and Philly Shipyard to create a competitive and resilient shipbuilding ecosystem.

Hanwha Group has unveiled a $5 billion infrastructure program to expand Hanwha Philly Shipyard, marking a major step in South Korea’s pledge to strengthen U.S. shipbuilding through a $150 billion investment fund. The announcement coincided with the christening of the U.S. Maritime Administration’s third National Security Multi-mission Vessel (NSMV) at the shipyard, according to Hanwha.

Hanwha Expands Orders to Strengthen U.S. Fleet

Alongside the $5 billion infrastructure plan, Hanwha’s U.S. shipping subsidiary announced the order of 10 medium-range (MR) oil and chemical tankers from Hanwha Philly Shipyard, with the first delivery scheduled for early 2029. The new tankers are designed to support the renewal of the U.S. Jones Act fleet and other long-term strategic goals. Hanwha Shipping also confirmed it has exercised an option for a second liquefied natural gas (LNG) carrier, following last month’s contract for the first U.S.-ordered, export-ready LNG carrier in nearly five decades.

Hanwha Ocean CEO Hee Cheul Kim and Hanwha Global Defense CEO Michael Coulter attended the vessel christening ceremony, highlighting the company’s commitment to collaboration between Hanwha Ocean and its U.S. affiliate. By combining expertise across both shipyards, Hanwha aims to strengthen its role in the U.S. market, create new jobs, and contribute to building a competitive and resilient shipbuilding ecosystem.

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Source: Hanwha