U.S. maritime plan allows initial ship construction in Korea
The White House on Friday unveiled the “America’s Maritime Action Plan” (MAP), a sweeping strategy to revive the U.S. shipbuilding industry that explicitly signals cooperation with South Korea and Japan. It is widely seen as laying out the blueprint for the so-called MASGA (Make American Shipbuilding Great Again) initiative discussed during Korea-U.S. tariff negotiations. The U.S. government states in the report published on the White
HD Hyundai's 2025 profit more than doubles on shipbuilding boom
HD Hyundai said in a regulatory filing on Thursday that its 2025 operating profit more than doubled, driven by strong profitability in shipbuilding and offshore operations. The group reported consolidated revenue of 71.26 trillion won ($49.5 billion) for 2025, up 5.2 percent from a year earlier, while operating profit surged 104.5 percent to 6.1 trillion won. HD Hyundai said earnings growth was led by improved margins in shipbuilding and offshore bu
Samsung Heavy secures $351 million container ship deal
Samsung Heavy Industries said Wednesday it has secured an order worth 468.6 billion won ($351 million) from an Africa-based shipping company to build two container ships. In a regulatory filing, the company said the vessels are scheduled for delivery by May 2028. With the latest contract, Samsung Heavy’s total orders for the year have reached $1.2 billion across seven vessels, equivalent to about 9 percent of its annual order target of $13.9 b
HJ Shipbuilding wins $260 million order for two container ships
South Korea's HJ Shipbuilding has secured a 353.2 billion won ($260 million) contract from a European shipowner to build two eco-friendly container ships with a capacity of 10,100 twenty-foot equivalent units (TEU). The order marks the first time the company will construct container ships exceeding 10,000 TEU at its main Yeongdo shipyard in Busan. The vessels will incorporate a newly developed hull form and fuel-efficient design aimed at reducin
Hanwha Ocean to build Korea's largest wind turbine installation vessel
Hanwha Ocean said on Friday it had secured a 768.7 billion won ($530 million) order to build a wind turbine installation vessel from affiliate Ocean Wind Power 1. Delivery of the vessel is scheduled for the first half of 2028. The company said deployment will initially be considered for domestic offshore wind projects. According to Hanwha Ocean, the vessel will be the first in South Korea capable of installing 15-megawatt-class offshore wind turbine