South Korea’s Hanwha Group has opened a new on-site office at Hanwha Ocean’s Geoje shipyard, strengthening cooperation on LNG carrier construction with its U.S. operations as Washington pushes to revive domestic shipbuilding.
The new office, established by Hanwha Shipping, the group’s U.S.-based maritime subsidiary, will directly support LNG carrier projects being built at Philly Shipyard, which Hanwha acquired last December for about $100 million.
The opening ceremony on August 21 was attended by Hanwha Shipping CEO Ryan Lynch, company executives, and officials from the American Bureau of Shipping. A symbolic highlight was the appearance of “MASGA” caps—short for Make American Shipbuilding Great Again—underscoring the initiative’s role in U.S.-Korea industrial collaboration.
In July, Hanwha Shipping placed a $260 million order for one LNG carrier at Philly Shipyard, with an option for an additional vessel expected. The new office in Geoje will allow teams to closely coordinate with Hanwha Ocean, monitor workflows, and ensure delivery of ships built to the highest technical standards, the company said.
The strategy comes as the U.S. government prepares to enforce rules requiring domestically built LNG carriers for exports, starting in 2029. By embedding Hanwha Ocean’s technology into Philly Shipyard, the company aims to position itself as a key player in the U.S. LNG shipping supply chain and capture rising demand for high-value vessels.
Hanwha is also accelerating direct U.S. investments. At the naming ceremony of the State of Maine, a national security multi-purpose vessel, held in Philadelphia on August 26, the group announced a $5 billion investment plan to expand Philly Shipyard’s annual capacity from the current 1–1.5 vessels to as many as 20 ships per year.
Industry analysts say Hanwha’s expansion is not just about LNG carrier orders, but about establishing itself as a strategic partner in the revival of America’s shipbuilding industry.
