South Korea’s Hanwha Group plans to transform its newly acquired US shipbuilder Hanwha Philly Shipyard, to enable it to produce up to 10 vessels per year, including LNG carriers.
Hanwha took analysts on a tour last week and subsequent South Korean press reports said it plans to boost the shipyard’s revenue to $4bn within a decade.
The conglomerate, whose shipbuilding arm Hanwha Ocean and its affiliates bought the yard in Philadelphia, Pennsylvania for $100m in late 2024, also plans to build LNG carriers there, marking a return to this sector for the US for the first time since the 1980s.
