Hanwha Ocean

Australia’s defence minister says government not concerned over possible shipyard takeover by Korean firm

An Austal-built Guardian-class patrol boat

The Australian government is not concerned by a South Korean company’s bid to acquire an Australian naval shipbuilder, Deputy Prime Minister and Minister for Defence Richard Marles confirmed on Wednesday, May 1. Speaking to reporters in Melbourne following a meeting with his South Korean counterpart Shin Won-sik, Mr Marles said that security arrangements can be […]

The post Australia’s defence minister says government not concerned over possible shipyard takeover by Korean firm appeared first on

https://www.bairdmaritime.com/work-boat-world/maritime-security-world/naval/ships-naval/australias-defence-minister-says-government-not-concerned-over-possible-shipyard-takeover-by-korean-firm/

Amogy partners with Hanwha on ammonia-powered vessel solutions

A three-way partnership between Brooklyn, N.Y., headquartered Amogy and two units of South Korea’s Hanwhat Group aims to accelerate accelerate the decarbonization of the maritime industry through the deployment of Amogy’s zero-emission ammonia-to-power technology for ammonia-powered vessel solutions.

Hanwha Ocean (the former DSME), one the world’s largest shipbuilders, has signed a contract that will see it purchase an Amogy ammonia-to-electrical power system that includes a Hanwha Aerospace...

https://www.marinelog.com/news/amogy-partners-with-hanwha-on-ammonia-powered-vessel-solutions/

South Korea’s third KSS-III submarine commissioned into service

A Dosan Ahn Changho-class submarine of the Republic of Korea Navy

The Republic of Korea Navy (ROKN) recently commissioned its newest diesel-electric submarine into service. ROKS Shin Chae-ho is the third South Korean Navy submarine to be built under the KSS-III series, also known as the Dosan Ahn Changho-class. Like its sisters, the 3,000-tonne, 83.5-metre-long...

https://www.bairdmaritime.com/work-boat-world/maritime-security-world/naval/submersibles-naval/south-koreas-third-kss-iii-submarine-commissioned-into-service/

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/

Australian naval shipbuilder confirms receipt of acquisition proposal by South Korean company

Austal Australia refers to media on Monday, April 1, and confirms it has received an unsolicited, conditional, and non-binding indicative proposal from South Korean shipbuilder Hanwha Ocean to acquire Austal by way of a scheme of arrangement. Under the indicative proposal, Austal shareholders would receive AU$2.825 (US$1.84) cash per Austal share. Hanwha’s indicative proposal is […]

The post Australian naval shipbuilder confirms receipt of acquisition proposal by South Korean company appeared...

https://www.bairdmaritime.com/work-boat-world/maritime-security-world/naval/ships-naval/australian-naval-shipbuilder-confirms-receipt-of-acquisition-proposal-by-south-korean-company/

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/

SECNAV urges Korean shipbuilders to invest in U.S. shipyards

Secretary of the Navy Carlos Del Toro has been meeting with top South Korean shipbuilding executives and making the case for them to create American subsidiaries and invest in integrated U.S. commercial and naval shipbuilding facilities.

Shortly after arriving in Seoul on Sunday, February 25, Secretary Del Toro engaged separately with Hanwha vice chairman and CEO Dong Kwan Kim and HD Hyundai vice chairman and CEO Kisun Chung.

The morning of Tuesday, February 27, Chung personally gave Secretary...

https://www.marinelog.com/shipbuilding/secnav-urges-korean-shipbuilders-to-invest-in-u-s-shipyards/

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