Hanwha Group has raised 1 trillion won to expand its presence in the U.S. maritime and defense industries, with a major focus on shipbuilding and potential acquisitions of local shipyards.
India outlines plans to expand shipbuilding and maritime cooperation with South Korea as part of its strategy to grow its fleet and advance its 2047 development agenda.
High-level delegations from India and Russia met in New Delhi to review ongoing maritime collaboration and outline further work in shipbuilding, port development, logistics, and Arctic-related initiatives.
Over five decades, HD Hyundai expanded from its early Ulsan shipyard to become a globally recognized shipbuilder. The company’s production progress, naval and commercial ship programs, and worldwide customer network culminated in its recent 5,000-ship delivery milestone.
EXMAR announced rapid progress on its second dual-fuel ammonia tanker, with the hull rising only weeks after keel laying, supported by coordinated work between EXMAR staff and HD Hyundai Mipo.
Hengli Heavy Industry has obtained a new contract for six 114,000-DWT LR2 product tankers, underscoring its continued progress in advanced tanker construction as international owners pursue higher standards in efficiency and environmental compliance.
The United States and South Korea released details of a trade agreement that includes $150 billion in Korean investment in US shipbuilding and US approval for South Korea to build nuclear-powered attack submarines.
Scorpio Tankers has signed letters of intent for two 320,000 dwt VLCCs at Hanwha Ocean, marking its return to the crude market after a decade. Each vessel is priced at $128 million, with deliveries set for the third and fourth quarters of 2028.
China has delayed for one year sanctions on five U.S. subsidiaries of Hanwha Group after the U.S. suspended Section 301 measures under a trade ceasefire in the maritime and shipbuilding sectors.
