Hanwha Acquires Philly Shipyard to Expand Global Shipbuilding and Naval Technology

In Korea, Hanwha Systems and Hanwha Ocean have announced the acquisition of Philly Shipyard from Aker ASA, marking a significant expansion in their global defense and shipbuilding operations. The $100 million investment secures a leading U.S. shipbuilder that has produced around half of the large commercial ships under the Jones Act since 2000.

Philly Shipyard, established in 1997, is known for constructing a variety of vessels including tankers and container ships that comply with the Jones Act—legislation requiring goods shipped between U.S. ports to be transported on U.S.-built ships. The shipyard also builds training vessels for the U.S. Maritime Administration.

This acquisition allows Hanwha to leverage its advanced naval systems and technologies in the U.S. market, integrating cutting-edge capabilities such as unmanned maritime systems, naval radars, and Smart Ship technologies. Hanwha Systems, a leader in defense technologies in Korea, and Hanwha Ocean, a top-tier shipbuilder, aim to enhance Philly Shipyard’s operations with innovative, low-carbon solutions and high-tech vessel construction.

Hanwha Ocean has been working on the development of ammonia fuel technology as well as LNG propulsion.

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