South Korean Shipbuilders HD Hyundai and Hanwha Pitch Port Cranes to Help Rebuild U.S. Maritime Sector

HD Hyundai and Hanwha Ocean Co., South Korea’s two largest shipbuilders, offered their expertise to help boost the U.S. shipbuilding industry and port infrastructure. 

U.S. Trade Representative (USTR) Jamieson Greer met with the two companies’ CEOs Chung Ki-sun and Kim Hee-cheul alongside the ministerial meeting at the Asia-Pacific Economic Cooperation (APEC). 

“We deeply appreciate the United States’ commitment to rebuilding its shipbuilding industry. HD Hyundai is fully prepared and willing to contribute wherever our expertise is needed,” Chung stated.

Hanwha CEO Kim expressed a similar sentiment. “Hanwha Ocean aims to go beyond technology transfer and production infrastructure development to become a strategic partner in revitalizing the U.S. shipbuilding industry.” The company made headlines last year when it acquired Philly Shipyard for $100m, a first for a South Korean shipbuilder in the U.S. market. 

South Korea may become a key ally in the U.S.’ efforts to overcome the reliance on Chinese technology and shipbuilding capacity. Currently around 80 percent of cranes operating in U.S. ports are manufactured in China. The initiative to start replacing this critical infrastructure began under President Biden, with both manufacturers in Finland (Konecranes) and Japan (Mitsui) also offering to provide “made in the USA” equipment.

President Trump also suggested a 100% tariff on Chinese cranes to help accelerate the phase-out, though industry experts argue that it’ll take at least a decade to provide American-made replacements. Currently there does not exist a U.S. manufacturer of ship-to-shore cranes. The American Association of Port Authorities also opposes the proposed taxes.

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