Increasing U.S. ship orders could benefit Korea: Report

Increasing U.S. ship orders could benefit Korea: Report

최초입력 2025.05.20 10:56:27

(Hanwha Ocean)

The United States is expected to order up to 448 industrial and military vessels from South Korea by 2037, creating opportunities for local shipbuilders, according to a report released on Monday by the Federation of Korean Industries (FKI).
The forecast is based on the Shipbuilding and Harbor Infrastructure for Prosperity and Security for America Act of 2025 (SHIPS for America Act), introduced in April 2025, alongside the U.S. Navy’s shipbuilding and retirement plans for 2025. The report expects more than 100 new orders from the United States for vessels under its strategic commercial fleet program, which uses vessels for commercial purposes in peacetime but can mobilize them during conflict.
The U.S. is also projected to order at least 42 liquefied natural gas (LNG) carriers by 2037, driven by a policy to use domestically built vessels for 10 percent of its LNG exports by 2040. Additional orders could include around 10 liquefied carbon dioxide (LCO₂) carriers and icebreakers, while military procurement is forecast to include 129 combat ships and 46 support vessels.
Although the accuracy of the forecast remains to be seen, the shipbuilding industry predicts that Korea will win a sizable portion of the orders from the United States thanks to its top-notch shipbuilding companies and is competing with China in the global LNG carrier market.
Analysts say South Korea is well-positioned to win many of the potential contracts given its technological edge in high-value-added ships and longstanding industrial ties with the United States.
“Given the U.S. push to curb Chinese maritime influence and bolster its domestic industry, orders are unlikely to go to Chinese shipbuilders,” the report said.
However, the researchers noted that U.S. efforts to rebuild its own shipbuilding base could impact long-term cooperation.
“In the short term, Korea should pursue strategies to ensure domestic ship construction,” Professor Ryu Min-cheol of the National Korea Maritime & Ocean University, who led the research, said.
“But in the long run, shipbuilders must also prepare for greater localization of production,” he added.
For its part, Hanwha Ocean Co. has already taken steps to tap into the growing U.S. demand by acquiring Philly Shipyard in 2024. The shipbuilder is reportedly weighing further investments to bolster shipbuilding capabilities, including LNG carriers.
HD Hyundai is also exploring various localization methods, including equity investment or leasing of local shipyards.
The report also presented a strategy for US warship MRO (maintenance and repair), analyzing that it is unlikely that the construction of new warships will be entrusted to Korea in the near future. It argued that trust should be built in the MRO sector primarily via hull repair work, which must gradually expand into hull renovation and repair projects and participation in maintenance projects including weapon systems moving forward.
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Increasing U.S. ship orders could benefit Korea: Report

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