🚢 $5 Billion Anchor Drop in Philly 🚢

South Korea’s Hanwha just went all-in on U.S. shipbuilding, pledging $5B to transform Philly Shipyard. Two new docks, three quays, and the muscle to boost output from a trickle of 1–2 ships a year to a fleet of 20.

They’ve already stacked the order book: 10 Medium Range (MR) tankers — the workhorses of refined fuel logistics — plus LNG carriers, marking the first U.S. export-market LNG orders in nearly 50 years.

Cynical me just sees Jones Act tonnage….but perhaps that’s just me! Good for the local economy and workforce though that’s for sure.