Can foreign investment save US shipyards? Consider the case of Hanwha Philly

Can foreign investment save US shipyards? Consider the case of Hanwha Philly

  The State of Shipbuilding When the Hanwha Group, a South Korean conglomerate, acquired Philly Shipyard at the end of last year, the American shipbuilder had been bleeding money. The yard finished 2021 with a net loss of $7.3 million. In 2022, it lost $11.7 million, followed by a staggering $67.9 million in 2023. In investor reports, the shipyard —…
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State of Shipbuilding: Year at a Glance

State of Shipbuilding: Year at a Glance

Chesapeake Shipbuilding delivered the 100-passenger American Eagle to American Cruise Lines. The ship is the first in a new series of “Coastal Cat” vessels featuring a hybrid catamaran hull form. Bollinger Shipyards began cutting steel at Bollinger Mississippi for the future USCGC Polar Sentinel, which will be the first heavy icebreaker built in the United States in a half-century. September…
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The State of Shipbuilding: Passenger vessel construction bounces back after pause during Covid years

The State of Shipbuilding: Passenger vessel construction bounces back after pause during Covid years

Innovation, pent-up demand and a desire for low-emission vessels drive new orders Uncertainty in the passenger vessel market during the Covid-19 pandemic had a significant impact on the flow of vessels entering service in recent years. But the situation has begun turning around. Despite economic headwinds, consumers are opening their wallets. They are commuting to the office again. They are…
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