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

Hanwha restructures Philly Shipyard ownership, targets 2028 Navy certification

Corporate and certification changes for the Philadelphia shipyard were reported on 27 October 2026.

Ingrid Sorensen
Shipbuilding Correspondent
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Stands on 3 placed sources from 2 publishers.
Philly Shipyard readies for Navy certification bid
Philly Shipyard readies for Navy certification bid AI illustrationhow this picture was made
Hanwha Group is restructuring ownership of Philly Shipyard and pursuing full United States naval shipbuilding certification for the facility by 2028. The Maritime Executive reports the 60% controlling stake in the yard will be transferred internally from Hanwha Systems to Hanwha Defense USA.[1] The outlet also confirmed the 2028 certification target on 27 October.[2] Yonhap News Agency reports Hanwha Systems has attributed a net profit decline to accounting losses from discontinued operations at the Philadelphia yard.[3]
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What this stands on
  1. Hanwha Group will transfer the 60% ownership stake in Philly Shipyard from Hanwha Systems to Hanwha Defense USA. · The Maritime Executive
  2. Hanwha is targeting full US naval shipbuilding certification for Philly Shipyard by 2028. · The Maritime Executive
  3. Hanwha Systems attributed the net profit decline to accounting losses from discontinued operations at Philly Shipyard · Yonhap News AgencySouth Korea
The one we could place publishes from South Korea. 1 could not be placed by their address. None is an official body: that part stands on reporting, not on the underlying document or transcript.