Hanwha Ocean, the South Korean caretaker of the “MASGA” (Make American Shipbuilding Great Again) initiative, is doubling down on its U.S. push after securing a key shipbuilding certification for its Philadelphia yard but faces a regulatory marathon in the United States. The company is accelerating efforts to develop the Philadelphia Shipyard — acquired at the end of 2024 — into a local production hub, positioning it as the centerpiec

South Korean shipbuilder Hanwha Ocean reported better-than-expected earnings for the first quarter, driven by a higher share of high-value vessels and favorable exchange rates. The shipbuilder said in a regulatory filing on Monday that its consolidated operating profit rose 70.6 percent year-on-year to 441.1 billion won ($300 million) in the January–March period. The figure exceeded the market consensus of 375 billion won by 17.6 percent. Revenue cam

Korea Zinc's $7.4 billion Tennessee smelter - largely funded by Washington - has been fast-tracked to expedite the first zinc refinery project in the United States since the 1970s. The company said Project Crucible, its planned non-ferrous metals complex in Clarksville, has been designated a covered project under FAST-41, a Washington program run by the Federal Permitting Improvement Steering Council (Permitting Council) that consolidates federal permitt

The opening of Arctic shipping routes could solve multiple problems for South Korea, a country entirely dependent on crude imports, by cutting voyage distances by up to 30 percent and bypassing volatile Gulf waters. The question is how. South Korean shipbuilders are moving closer to an answer as they double down on icebreakers — specialized vessels designed to crush sea ice and keep frozen shipping lanes open. HD Hyundai Heavy Industries recently sig

Hyundai Steel returned to the black in the first quarter of 2026, posting an operating profit of 15.7 billion won ($10.5 million) as rising sales volumes offset persistent cost pressures. The company reported consolidated revenue of 5.74 trillion won for the January to March period on Friday, up 3.2 percent from a year ago, buoyed by stronger product shipments. Operating profit, however, slid 63.7 percent quarter-on-quarter as exchange rate headwinds and elev

South Korean shipping lines are introducing emergency bunker surcharges as the prolonged conflict between Iran and the U.S.-Israeli coalition drives up fuel costs, adding to input pressures and, ultimately, consumer prices. Sinokor Merchant Marine, one of Korea's largest container operators, said it will impose an emergency bunker surcharge of $100 per 20-foot equivalent unit (TEU) on export cargo bound for Southeast Asia, effective this month. Industry o

HMM will launch a new shipping route connecting Spain and West Africa in July, marking its first foray into the African continent as part of a broader push to extend its global reach. The new service announced Thursday, designated MA2 (Mediterranean West Africa), will operate out of Algeciras, Spain — a key Mediterranean hub — and call at ports in Morocco, Senegal, Ghana, Nigeria, and Cote d'Ivoire. The round voyage takes about 35 days and wil

Hanwha Ocean is ramping up its bid for Canada’s $40 billion submarine program, as its chief executive met with government and shipbuilding officials in Halifax. According to Hanwha Ocean on Tuesday, CEO Kim Hee-cheol recently visited Halifax, Canada, where he met with Premier of Nova Scotia Tim Houston and other provincial officials to explore potential collaboration for the submarine program. The talks covered defense readiness, MRO capabilities, wo

HD Hyundai Heavy Industries has built the world’s first ammonia-powered gas carriers, marking a significant step toward commercializing next-generation eco-friendly vessels. According to shipbuilding industry sources Thursday, HD Hyundai Heavy Industries held a naming ceremony at its Ulsan shipyard for two 46,000-cubic-meter medium-sized gas carriers equipped with dual-fuel engines. The vessels are designed to run on ammonia and liquefied petroleum gas