In any high-stakes military conflict with China, the US Navy will be critical to winning. But America's shipbuilding industry is far from able to support what the navy needs.
Enter South Korean shipbuilding powerhouse Hanwha Ocean. The company is buying a former navy shipyard in Philadelphia and recently secured South Korea's first contract to overhaul a US naval vessel. These steps pave the way for the company to play a bigger role in the US naval shipbuilding sector and could herald the start of a new wave of investment.
America's shipbuilding industry has virtually collapsed over the last generation, with years-long delays and cost overruns making it hard for the US Navy to build the ships and submarines it needs.
In contrast, China's navy – supported by the world's largest shipbuilding sector, which produces more than half of merchant ships globally – is rapidly growing and now has a larger fleet than the US.
"Look at the difference in shipbuilding between the United States and China deeply concerning," Deputy Secretary of State Kurt Campbell told a Senate committee in July. "We have to do better in this arena, or we will not be the great naval power that we need to be for the 21st century."
To address this shortfall, the US is seeking investment from allies, particularly South Korea and Japan. Their companies are the world's biggest shipbuilders outside China and can produce both commercial and naval vessels more quickly and cost-effectively than American firms.
Secretary of the Navy Carlos Del Toro visited Japan and South Korea in April, where he toured Mitsubishi Heavy Industries' shipyard in Yokohama, as well as Hanwha's and HD Hyundai Heavy Industries' facilities. He praised their efficiency and technology, and encouraged them to invest in America.
Hanwha was one of the first to respond to the plea.
Bu hikaye The Straits Times dergisinin September 22, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Straits Times dergisinin September 22, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
THE TRAIN OF THOUGHT IN STICKY NOTES
WHAT'S ON YOUR MIND? @SUBWAYTHERAPY
Use of escalators ● Benefits to encouraging standing on both sides
The recent initiative by Hong Kong's Mass Transit Railway (MTR) to encourage standing on both sides of escalators is a sensible move that Singapore could consider adopting.
Replies Rentals ● HDB reviewing how data accuracy can be improved
We thank Mr Foo Sing Kheng for his feedback (Rental rates ensure accuracy of data on HDB website, Oct 23).
Singer Karol G apologises for song said to sexualise minors
Colombian reggaeton star Karol G apologised on Nov 11 after her latest song, +57, was criticised for sexualising minors.
Mattel mistakenly lists porn site on packaging for Wicked dolls
All may be good in the Land of Oz, but the same cannot be said for the world of Mattel.
Singer G.E.M. to perform at National Stadium in March
Hong Kong singer G.E.M. is slated to hold a concert at the National Stadium on March 1, 2025.
Actress Megan Fox pregnant again after miscarriage
After a previous miscarriage, American actress Megan Fox is pregnant again. American rapper Machine Gun Kelly, whose real name is Colson Baker, is reportedly the father, according to US media.
Singer Yu Tian's son-in-law receives suspended jail sentence for scam involvement
Gary Chen, the son-in-law of famed Taiwanese singers Yu Tian and Li Ya-ping, has been given a suspended jail sentence for his involvement with a scam syndicate.
Irish pop band The Corrs to hold February concert
Irish pop quartet The Corrs will be back in Singapore for a concert at The Star Theatre on Feb 13, 2025.
A French veterinary psychiatrist puts cats on the couch in new book
Even dog people must admit that cats are having a moment.