The Jones Act Desk
Ships, ports, and the law of American shipping.
Wednesday, October 28, 2026 · UTC
Shipbuilding

Hanwha Defense USA acquires 60% controlling stake in Philly Shipyard

Announced Tuesday, the ownership restructure follows major investment and headcount growth at the yard.

Ingrid Sorensen
Shipbuilding Correspondent
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Stands on 5 placed sources from 1 publisher.
Hanwha Defense USA will acquire a controlling 60% stake in Hanwha Philly Shipyard via an HDUSA-led joint venture, the company announced Tuesday. [1] Hanwha Group first purchased the former Philly Shipyard for $100 million in December 2024. [2] The company announced plans in August 2025 to invest $5 billion at the yard for facility upgrades and expanded production capacity. [3] Workforce at the site has grown to nearly 2500 employees, up from 80 employees in July 2019. [4] Acting US Secretary of the Navy Hung Cao toured the Philly Shipyard facility in September to discuss future Navy shipbuilding requirements. [5]
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What this stands on
  1. Hanwha Defense USA announced on Tuesday it will acquire a controlling 60% stake in Hanwha Philly Shipyard via an HDUSA-led joint venture · gCaptain
  2. Hanwha Group previously purchased the former Philly Shipyard for $100 million in December 2024 · gCaptain
  3. Hanwha announced plans in August 2025 to invest $5 billion in the Philly Shipyard for facility upgrades and expanded production capacity · gCaptain
  4. Philly Shipyard workforce has grown to nearly 2500 employees, up from 80 employees in July 2019 · gCaptain
  5. Acting US Secretary of the Navy Hung Cao toured the Philly Shipyard facility in September to discuss future Navy shipbuilding requirements · gCaptain
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