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Hanwha, Fincantieri Shares Rise After Trump Opens Navy Shipbuilding to Foreign Yards
The memo applies to foreign shipbuilders with major U.S. investments and could open the door to more overseas-built Navy vessels, analysts said.
- On Thursday, President Donald Trump signed a national security memorandum permitting foreign shipbuilders to construct up to two U.S. Navy ships in their home shipyards to help rebuild the domestic shipbuilding industrial base.
- The memorandum promotes a "Finland model" approach where the U.S. acquires vessels from allied shipyards before transferring production domestically, leveraging Korea's $350 billion investment pledge under last year's bilateral trade deal.
- To qualify, foreign shipbuilders must make "substantial and durable investments" in U.S. facilities; Hanwha Group's acquisition of the Hanwha Philly Shipyard in Philadelphia exemplifies this requirement and positions the company as a likely beneficiary.
- While Hanwha is positioned to benefit, the memorandum faces potential conflict with the House-approved National Defense Authorization Act for Fiscal Year 2027, which restricts defense funds for foreign-built ships.
- Implementation requires transferring shipbuilding expertise and know-how to the U.S., while the defense secretary must establish a fifth naval shipyard—the first in over 80 years—to expand submarine and aircraft carrier repair capacity.
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Coverage Details
Total News Sources20
Leaning Left3Leaning Right4Center6Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 23%
C 46%
R 31%
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