Overview

• Hanwha announced a 7 trillion won (about $5 billion) program to scale Hanwha Philly Shipyard, outlining two new docks, three quays and a 98-acre block assembly facility under review to lift output from roughly 1–1.5 ships a year to as many as 20.
• Hanwha Shipping placed orders with the yard for 10 medium-range oil and chemical tankers and one LNG carrier, with the first tanker slated for delivery in early 2029 and the LNG deal described as the first U.S. order of its type in about five decades.
• South Korean President Lee Jae Myung visited the yard and joined the christening of MARAD’s NSMV State of Maine, highlighting political backing for ramping up U.S. shipbuilding for training, disaster response and security needs.
• The expansion is part of the ‘Make American Shipbuilding Great Again’ initiative linked to a July trade deal that set U.S. tariffs on Korean goods at 15 percent in return for large Korean investments, including about $150 billion earmarked for shipbuilding cooperation.
• Hanwha acquired Philly Shipyard for roughly $100 million in 2024, says it expects significant local job growth and longer-term naval work as it introduces automation and smart-yard technologies, and has not yet detailed the full timeline or financing breakdown.