Hanwha bags 1st US Navy shipbuilding order

Hanwha Group has secured its inaugural contract to construct a naval vessel for the United States Navy, following its acquisition of Philadelphia-based Philly Shipyard in December 2024. This marks a significant milestone in the Korea-U.S. shipbuilding collaboration initiative, Make American Shipbuilding Great Again (MASGA). The company's subsidiary, Hanwha Defense USA, recently inked a $269 million (357.5 billion won) agreement with vessel construction manager TOTE Services to build a Landing Ship Medium (LSM).

The U.S. Navy designated TOTE Services to oversee the shipbuilding process and manage vessel construction.

The construction of this LSM is slated to commence in the fourth quarter of the following year. The contract also encompasses provisions for the construction of three further vessels. The Landing Ship Medium is a specialized expeditionary landing vessel engineered to bolster the U.S. Navy's operations in precarious coastal regions, encompassing the Indo-Pacific region.

The primary function of this vessel is to transport and deploy Marine Corps personnel, equipment, and supplies to coastal areas. The U.S. Navy aims to acquire a total of 35 Landing Ship Mediums.

Measuring 100 meters in length, the LSM represents a substantial expansion of Hanwha Group's presence in the U.S. Navy's shipbuilding endeavors.