Rich People Trades
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Rich People Trades

Business

A flagging U.S. industry looks for new life in a Philadelphia shipyard

by admin July 19, 2025
July 19, 2025
A flagging U.S. industry looks for new life in a Philadelphia shipyard

The U.S. shipbuilding industry is looking for help. A South Korean company is answering the call.

Hanwha Philly Shipyard CEO David Kim, nodding to the gargantuan vessels under construction just off the Delaware River, on Wednesday offered the kind of vision that has brought some optimism back to the U.S. shipbuilding community.

“You take that level of experience, the technology that we have, the know-how, the process expertise, and so clearly, we believe we have a lot to bring to the Philly Shipyard, as well as to the U.S. maritime industrial base, in terms of modernization capacity,” he said on a walkthrough of the shipyard.

Hanwha Philly Shipyard CEO David Kim.Obtained by NBC News

Hanwha Group bought the Philly Shipyard in December for $100 million and plans to invest multiple times that amount in the yard, training over a thousand new workers and bringing in new high-tech equipment. The company hopes to build naval ships and become the first U.S. builder of specialized liquefied natural gas tankers.

Shipbuilding in the United States has been all but dormant. China, South Korea, Japan and Europe all produce far more ships than the United States, with the few shipyards still operating in the country concentrating on military ships.

Revitalizing shipbuilding has been one of the areas President Donald Trump has pointed to as part of a broader effort to bring manufacturing back to the United States — a move some see as shortsighted considering the costs associated with building the kind of gigantic modern ships that remain a core part of how goods and commodities move around the planet.

This post appeared first on NBC NEWS

previous post
‘Irrelevant’: Senators push back against Vought’s call for more partisan spending process
next post
Top 5 Canadian Mining Stocks This Week: Altima is Energetic with 98 Percent Gain

Related Posts

GM cuts 50% of Cruise staff after ending...

February 6, 2025

Italian chocolate giant Ferrero to buy Kellogg’s Froot...

July 11, 2025

Claire’s, known for piercing millions of teens’ ears,...

August 8, 2025

Cracker Barrel assures customers its values remain the...

August 27, 2025

Microsoft says goodbye to the Windows blue screen...

July 1, 2025

Retirees ‘stunned’ as market turmoil over tariffs shrinks...

April 7, 2025

Joann to shutter all 800 fabric stores after...

February 26, 2025

Apple sues former Vision Pro employee for allegedly...

July 3, 2025

Home Depot is buying GMS for about $4.3...

July 1, 2025

First the token, now the swipe: NYC’s subway...

March 20, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      First lady Melania Trump’s new official portrait revealed

      January 28, 2025
    • 2

      American fighters are dying in Ukraine in growing numbers. Bringing their bodies home is a complex task

      January 30, 2025
    • 3

      ECOWAS pledges to ‘keep door open’ after 3 coup-hit West African nations exit regional bloc

      January 30, 2025
    • 4

      Vale Launches Strategic Review of Thompson Nickel Operations Amid Market Challenges

      January 28, 2025
    • 5

      Europe’s busiest airport is set to get bigger, as Britain green-lights tortured Heathrow expansion project

      January 30, 2025
    • 6

      Top Altcoins to Watch in 2025: An Investor’s Guide

      January 28, 2025
    • 7

      DeepSeek is giving the world a window into Chinese censorship and information control

      January 30, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: richpeopletrades.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 richpeopletrades.com | All Rights Reserved