Hanwha Defense USA wins US$269 mln U.S. Navy shipbuilding contract

By Chang Dong-woo

WASHINGTON, Oct. 30 (Yonhap) -- Hanwha Defense USA (HDUSA), a subsidiary of South Korea's Hanwha Aerospace Co., has secured a US$269 million contract to build a medium landing ship (LSM) for the U.S. Navy and Marine Corps, marking its first U.S. Navy shipbuilding contract, according to the company.

The company said Thursday it was selected by U.S. maritime services firm Tote Services to build one LSM at Hanwha Philly Shipyard in Philadelphia, with options to construct three additional vessels.

The selection was made through a competitive bidding process under Tote Services' vessel construction management program, which oversees shipbuilding contracts for the U.S. Navy and Marine Corps.

"Since acquiring Philly Shipyard in 2024, Hanwha has made significant investments in its workforce and technology to pave the way to build ships for the U.S. Navy and other federal customers," HDUSA President and Chief Executive Officer (CEO) Michael Coulter said.

Construction is scheduled to begin in the fourth quarter of 2027.

Tote Services' $2.2 billion vessel construction manager contract supports the Navy and Marine Corps' planned 35-ship LSM fleet. The program's first vessel is expected to be delivered in 2030.

The announcement comes as HDUSA is moving to acquire a controlling stake in Hanwha Philly Shipyard, which Hanwha purchased in 2024, as the South Korean defense group seeks to expand its presence in the U.S. shipbuilding industry.

odissy@yna.co.kr
(END)