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Story summary
- Hanwha Ocean partners with the United States to revive shipbuilding under President Donald Trump’s plan.
- Sen. Dave McCormick (R-Pa.) told Wall Street Journal the U.S. lost shipbuilding capacity and needs shock therapy.
- Hanwha bought Philly Shipyard in December 2024, investing about $350 million in upgrades and planning further billions.
- Hanwha offered more than $1 billion in August to acquire Austal USA’s Mobile, Alabama shipyard, with negotiations ongoing.