Hanwha

Hanwha takes stake in Australian shipbuilder Austal

South Korean business conglomerate Hanwha Group now holds a 9.9% stake in Australian shipbuilding firm Austal, according to an exchange filing.

The filing revealed that Hanwha, which had its US$650 million takeover bid rejected by Austal last year, acquired 41.2 million shares at A$4.45 (around US$2.85) per share.

It is important to note that last year, Hanwha, which runs the yard formerly known as Daewoo Shipbuilding & Marine Engineering, secured an agreement to buy US shipbuilder Philly...

https://container-news.com/hanwha-takes-stake-in-australian-shipbuilder-austal/

New leadership in place at Hanwha Philly Shipyard

Korea’s Hanwha Group formally completed its $100 million acquisition of what is now Hanwha Philly Shipyard on December 19, 2024. New leadership is now in place, with David Kim taking the role of CEO to guide the shipyard through the transition. Kim previously served as executive vice president for Hanwha Defense USA and played an instrumental role leading the planning for Hanwha’s acquisition of Philly Shipyard.

“Hanwha Philly Shipyard begins an exciting new chapter today,” said Kim. “We plan to...

https://www.marinelog.com/shipbuilding/shipyards/shipyard-news/new-leadership-in-place-at-hanwha-philly-shipyard/

Baker Hughes and Hanwha in ammonia gas turbine agreement

Ammonia-fueling is widely seen as key to shipping’s decarbonization. And while ammonia fueled four stroke engines will soon be a reality, ammonia gas turbines could be in the not too distant future.

Korea’s Hanwha Group plans to complete the development of LNG carriers and containerships using an ammonia gas turbine propulsion system by 2028.

The ammonia gas turbines will be developed in cooperation with Baker Hughes (NASDAQ: BKR) under a joint development and collaboration agreement just signed...

https://www.marinelog.com/baker-hughes-and-hanwha-in-ammonia-gas-turbine-agreement/

South Korean Shipbuilder Hanwha Makes $100M Bid to Buy Philly Shipyard, SECNAV Del Toro Praises Deal

A ship under construction at graving dock at Philly Shipyard in Philadelphia, Pa. Philly Shipyard Photo

An American shipyard that builds domestic cargo vessels and training ships for U.S. maritime colleges has agreed to a deal, in which it would be bought by a major South Korean shipbuilder.
Pending regulatory approvals, Philly Shipyard is set to be acquired by Hanwha Systems and Hanwha Ocean for $100 million from its Norwegian parent Anker ASA, according to a statement from the Philadelphia...

https://news.usni.org/2024/06/20/south-korean-shipbuilder-hanwha-makes-100m-bid-to-buy-philly-shipyard-secnav-del-toro-praises-deal

Hanwha to acquire Philly Shipyard

In deal that was first reported as in the works last October, Philly Shipyard is to be acquired by Korea’s Hanwha Group, whose Hanwha Ocean is the former the former Daewoo Shipbuilding & Marine Engineering.

In a stock exchange announcement today Oslo-listed Philly Shipyard ASA reports that has entered into a share purchase agreement with both Hanwha Systems and Hanwha Ocean for the purchase of its sole operating subsidiary Philly Shipyard, Inc. (PSI).

The transaction will result in the Philly...

https://www.marinelog.com/shipbuilding/shipyards/shipyard-news/hanwha-to-acquire-philly-shipyard/

Hanwha makes its case for Austal acquisition

As we reported earlier, South Korea’s Hanwha Group has submitted an indicative offer to acquire the global business of Austal USA’s Australian parent, Austal (ASX:ASB), through a scheme of arrangement that would see Austal shareholders receive AUD 2.825 cash per Austal share.

In ASX trading on April 1, Austal’s share was trading in a range of AUD 2.320 – AUD 2.440. Today’s range was AUD 2.320 – AUD 2.460.

In a press release today, Hanwha says that it “brings important capabilities and investment...

https://www.marinelog.com/shipbuilding/hanwha-makes-its-case-for-austal-acquisition/

Austal confirms getting a takeover offer from Hanwha Ocean

Rumors that Australian shipbuilder Austal Limited (ASX:ASB) was the target of a takeover bid have been circulating since last July. Now, it seems, there’s some truth in one of them. In an April 1, ASX stock exchange filing, Austal (which is, of course, the parent of Austal USA) confirmed that it has confirms it received an unsolicited, conditional and non-binding indicative proposal from Korea’s Hanwha Ocean Co., Ltd under which Hanwha would acquire Austal by way of a scheme of arrangement that...

https://www.marinelog.com/news/austal-confirms-takeover-offer-from-hanwha-ocean/

Is Philly Shipyard a Hanwha takeover target?

Back in July, Korean shipbuilder Hanwha Ocean was reportedly among the suitors in a rumored bid to acquire Austal. As we reported at that time, Austal said:

“Austal is regularly involved in discussions with potential parties concerning strategic initiatives to create value for its shareholders. While discussions may take place from time to time, there can be no certainty that any opportunity will proceed … Austal will keep shareholders informed in accordance with its continuous disclosure...

https://www.marinelog.com/shipbuilding/shipyards/shipyard-news/is-philly-shipyard-a-hanwha-takeover-target/