HD Korea Shipbuilding & Offshore Engineering plans to sell integrated shipyard construction solutions and digital platforms for smart yards, while Hanwha Ocean and Samsung Heavy Industries also expand into new business areas.
Hanwha Ocean’s Philadelphia investment is drawing new attention as 60 Minutes and industry coverage highlight U.S. shipbuilding’s output, cost and workforce challenges.
COSCO Shipping Heavy Industry (Zhoushan) and the Zhejiang Branch of China Classification Society signed a cooperation pact in Zhoushan and issued China’s first ship repair carbon footprint compliance declaration for Fengshouhai.
The Clarksons Newbuilding Price Index stood at 182.14 at the end of February 2026, only 2.6% above the 2007 level, showing how limited overall new ship price gains have been despite higher yard costs.
China is widening its presence in global shipbuilding as vessel replacement demand drives a long order cycle. The shift is also increasing pressure on South Korean yards in tankers and LNG carriers.
Foreign workers made up 22.7 percent of South Korea’s shipbuilding workforce in 2024, highlighting labor shortages, policy pressure for domestic hiring, and a growing push toward automation and smart yard investment.
China Tourism Group Co., Ltd. and China State Shipbuilding Corporation Limited signed an MoU in Shanghai for a new large cruise ship project, combining tourism operations, shipbuilding, construction and operating management to strengthen China’s full cruise industry chain.
Adora Cruises floated out Adora Flower City, China’s second large domestically built cruise ship, and signed for two more vessels plus an option for a third as it prepares for delivery in late 2026 and targets wider international cruise operations.
Hornblower Group expanded its Bridgeport yard to 17 acres, rebranded the site as Steelpointe Shipyard by Hornblower, and added broader vessel, propulsion and yacht service capabilities.
