Samsung Heavy Industries (SHI) from South Korea has made significant advancements in the shipbuilding sector in the United States by forming two new collaborations in line with Washington’s initiative to boost domestic shipyards known as Make American Shipbuilding Great Again (MASGA).
In a trilateral memorandum of agreement, SHI partnered with General Dynamics NASSCO and their long-standing associate DSEC. They aim to combine their ship design and advanced manufacturing automation and technology for upcoming US naval, government, and commercial projects
SHI has also announced a separate memorandum of understanding with Conrad Shipyard based in Louisiana to explore opportunities in the rapidly growing US LNG bunkering market.
The collaboration between SHI and Conrad will focus on examining technical and commercial concepts for LNG bunkering vessels tailored to meet US regulatory and operational standards.
As part of broader trade discussions with the US, South Korea has committed to a substantial $150bn investment in US shipbuilding. Competing Korean entities are also making inroads in the American market. Hanwha Ocean led the way by acquiring and planning the revitalisation of Philly Shipyard. HD Hyundai Heavy Industries has signalled potential acquisitions in the US and recently partnered with Huntington Ingalls Industries to expand collaboration in shipbuilding and repair for both naval and commercial ventures. HD Hyundai has also formed a separate agreement with Edison Chouest Offshore to jointly construct containerships.
