Philadelphia: Hanwha Philly Shipyard, a shipyard located in the United States and recently acquired by South Korea's Hanwha Ocean Co., has successfully secured a 348 billion-won (US$251.2 million) contract for a liquefied natural gas (LNG) carrier. This marks the first such order under its new ownership, as announced by the parent company on Tuesday.

According to Yonhap News Agency, the contract, commissioned by Hanwha Shipping Co., represents the first overseas LNG carrier deal for the Philadelphia-based shipyard in nearly five decades. The project is anticipated to strengthen shipbuilding cooperation between South Korea and the United States, as noted by Hanwha Ocean.

"This project aligns with the U.S. government's strategy to revitalize its shipbuilding and shipping industries while strengthening energy security," stated Hanwha Ocean. Under the contract terms, Hanwha Ocean will progressively transfer its advanced shipbuilding expertise to Hanwha Philly Shipyard, which plans to broaden its construction of high value-added vessels.

The collaboration aims to establish a framework for LNG carrier production within the United States, facilitating Hanwha's entry into the North American LNG shipping market. Most of the vessel construction will be conducted at Hanwha Ocean's Geoje shipyard in South Korea, while Hanwha Philly Shipyard will focus on certification and compliance tasks required by the U.S. Coast Guard, including adherence to U.S. maritime safety regulations for flag registration.

An official from Hanwha Ocean mentioned, "This order allows Hanwha Philly Shipyard to elevate its technological capabilities by entering the highly specialized LNG carrier sector, while Hanwha Ocean gains a strategic foothold to apply its shipbuilding technology within the U.S. market." The agreement is set against the backdrop of ongoing discussions between South Korea and the U.S. on shipbuilding cooperation.

Since his reelection, U.S. President Donald Trump has emphasized the need to revive the American shipbuilding industry and the importance of partnering with allies such as South Korea, recognized as a global leader in naval vessel construction.