All articles tagged with #shipbuilding
The Mare Island Dry Dock in Vallejo will close permanently, resulting in the layoff of over 80 employees, due to losing a critical U.S. Coast Guard contract and unforeseen business issues, raising concerns about the impact on local jobs and industry.
Hanwha's Philly Shipyard in Philadelphia has the capability to build nuclear-powered submarines for the U.S. Navy, with the company expressing readiness to fulfill this role when the U.S. government is prepared, amid broader U.S.-South Korea cooperation and investment in shipbuilding.
The US Navy plans to build the largest surface combatant since WWII, called the USS Defiant, as part of the 'Golden Fleet' effort, with construction starting around 2030. The ship will be over 35,000 tons, equipped with advanced weapons and systems, and built in the US to bolster naval capabilities, potentially countering global threats including China.
The U.S. plans to build new 'Trump-class' warships, dubbed the 'Golden Fleet,' emphasizing increased seapower and military strength, with designs featuring lasers and missile capabilities, amidst ongoing challenges in Navy shipbuilding and strategic competition.
The US Navy announced plans to build a new class of warship, the FF(X), as part of Trump's 'Golden Fleet' initiative to boost domestic shipbuilding and address fleet shortfalls, aiming for the first ship to be ready by 2028, amidst efforts to compete with China and revitalize US ship manufacturing.
US and South Korea finalized a trade agreement involving significant investments, tariff reductions, and military cooperation, including South Korea's plan to build nuclear-powered submarines in the US, with details to be released soon.
U.S. markets declined sharply amid Chinese sanctions targeting South Korean shipbuilding subsidiaries, signaling increased trade tensions and impacting global markets, with particular concern over China's maritime strategies and their effects on international trade and stock indices.
China imposed sanctions on five US-linked subsidiaries of South Korean shipbuilder Hanwha Ocean amid escalating trade tensions, leading to a sharp decline in Hanwha's shares and further strain in US-China relations over maritime industry issues.
China has imposed sanctions on five US subsidiaries of South Korean shipbuilder Hanwha Ocean, accusing them of aiding US efforts against China in global shipbuilding, amid escalating trade tensions between China and the US.
South Korean President Lee emphasized the importance of the U.S.-South Korea alliance, highlighted plans to boost the U.S. shipbuilding industry through Korean investment, and addressed North Korea's nuclear threat while maintaining close ties with China, avoiding decoupling.
Australia's decision to acquire Japan's advanced Mogami-class frigates highlights Japan's strong shipbuilding capabilities and marks a significant step in security cooperation, though analysts warn of potential risks related to transfer of production and domestic shipbuilding capacity.
The Defense Logistics Agency awarded a $5 billion contract to six companies to accelerate U.S. Navy ship manufacturing, with potential to reach up to $10 billion, aiming to streamline procurement and modernize shipbuilding processes.
US labor unions, led by the United Steelworkers Union, have filed a Section 301 petition urging the U.S. Trade Representative to investigate China's anti-competitive shipbuilding practices, which have led to a decline in U.S. shipyards and jobs. The unions argue that China's state-directed industrial campaigns and subsidies pose economic and national security threats. The petition is supported by policymakers and the Shipbuilders Council of America, and comes after President Biden's $20 billion investment to bolster domestic crane manufacturing. USTR Katherine Tai now has 45 days to decide whether to pursue an investigation into Chinese shipbuilding.
Shipbuilding has become a new focal point in the ongoing US-China trade war, as both countries vie for dominance in the industry. The US is implementing measures to bolster its shipbuilding sector, including subsidies and protectionist policies, in an effort to counter China's growing influence. This shift reflects the broader geopolitical and economic competition between the two global powers, with implications for the global economy and trade dynamics.
Retired US Navy Adm. James Stavridis emphasized the need for the US to expand its naval forces and build more ships to keep pace with China, which currently has the world's largest navy with over 355 vessels. Stavridis highlighted the importance of quantity in shipbuilding and suggested that the US Navy should approach 350 ships to match China's capabilities. He also emphasized the strength of US military alliances as a deterrent to a potential Chinese offensive.