{"id":1500437,"date":"2024-11-04T22:40:00","date_gmt":"2024-11-05T03:40:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1500437"},"modified":"2024-11-04T22:40:00","modified_gmt":"2024-11-05T03:40:00","slug":"philly-shipyards-transformation-how-hanwhas-investment-is-driving-u-s-navy-readiness","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/philly-shipyards-transformation-how-hanwhas-investment-is-driving-u-s-navy-readiness\/1500437\/","title":{"rendered":"Philly Shipyard’s Transformation: How Hanwha’s Investment Is Driving U.S. Navy Readiness"},"content":{"rendered":"

Philly Shipyard’s Transformation: How Hanwha’s Investment Is Driving U.S. Navy Readiness<\/span><\/p>\n

\n

By Wilson Beaver of Heritage.org<\/a><\/em><\/p>\n

Earlier this year, Hanwha Ocean Company bought Philly Shipyard for $100 million. Though it was met with little fanfare from the public at the time, the investment was a big deal in the\u00a0Navy<\/a>.<\/p>\n

The Independence-class littoral combat ship USS Mobile (LCS 26) comes alongside the Nimitz-class aircraft carrier USS Theodore Roosevelt (CVN 71) for a fueling-at-sea, Oct. 1, 2024 <\/em><\/a><\/p>\n

It came after requests from American defense experts and government officials for shipbuilders from allied countries to invest into the worn down, depleted, and inefficient mess that is the US\u00a0shipbuilding industry<\/a>. Navy Secretary Carlos Del Toro even called the deal,\u00a0\u201ca game-changing milestone\u201d for America\u2019s \u201cMaritime Statecraft.\u201d<\/p>\n

Now, the new partnership is paying dividends, for Hanwha, Philadelphia, and the United States. In late August, Hanwha secured an annual Navy maintenance, repair, and overhaul (MRO) contract. That contract and the new work at Philly Shipyard will go a long ways towards fixing the Navy\u2019s current maintenance\u00a0backlog<\/a>, which is currently contributing to both shipbuilding delays and cost overruns.<\/p>\n

According to a 2022 Government Accountability Office report, the Navy\u2019s current maintenance backlog amounted to\u00a0$1.8 billion<\/a>. This inefficiency has a major impact on America\u2019s combat readiness has contributed to the Navy\u2019s decision to decommission 9 ships before their expected service life.<\/p>\n

Unfortunately, things have\u00a0only gotten worse<\/a>\u00a0under the Biden-Harris administration. Misguided spending priorities and a\u00a0lack of urgency<\/a>\u00a0have set back America\u2019s ability to keep up with and deter\u00a0China<\/a>, which is the\u00a0world\u2019s largest Navy<\/a>\u00a0numerically and whose fleet is still growing fast.<\/p>\n

Hanwha could help turn the tide in that fight, though. With the purchase of the Philly Shipyard, it is now positioned to compete for contracts for building new ships, which could be an enormous windfall not only for Philadelphia workers, but also our naval power.<\/p>\n

Specifically, the Philly Shipyard is well positioned to compete for contracts to construct Constellation-class frigates. Currently, these ships are only being built at Marinette Marine in Wisconsin, with\u00a0the first ship<\/a>\u00a0set to set sail in 2029 following production delay. But Navy leadership has already called for an\u00a0increase<\/a>\u00a0in the construction of new missile-guided frigates, and the Philly Shipyard is now well-positioned to compete for building these additional frigates.<\/p>\n

The new investment in the Philly Shipyard is a refreshing step in the right direction. It is also a reminder that our efforts to reshore industry and rebuild our defense industrial base will benefit American workers first and foremost, like the new workers who will need to be hired as Philly Shipyards expands.<\/p>\n

If we want to win, however, we need to build on this positive momentum. Policymakers should work to create\u00a0maritime prosperity zones<\/a>, implement programs to\u00a0solve labor shortages, and cut down on overregulation<\/a>\u00a0in order continue to promote further investments in and expansion of our naval infrastructure, especially at Philly Shipyards.<\/p>\n

As our Navy works to meet the challenges of tomorrow, Hanwha\u2019s new investment means Philadelphia will be playing a leading role in the fight. By fixing the maintenance glut and building new ships, Philly Shipyard will be vital to preserving the security of the American people.<\/p>\n

Why? Because the first battle of the next great power competition will not take place in the far-off seas of the Pacific; it will be fought in places like Philly Shipyard on the Delaware as we set out to defeat our own deficiencies. And this is a\u00a0battle we can\u2019t afford to lose<\/a>.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nMon, 11\/04\/2024 – 17:40<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/military\/philly-shipyards-transformation-how-hanwhas-investment-driving-us-navy-readiness<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Philly Shipyard’s Transformation: How Hanwha’s Investment Is Driving U.S. Navy Readiness By Wilson Beaver of Heritage.org Earlier this year, Hanwha Ocean Company bought Philly Shipyard…<\/p>\n","protected":false},"author":0,"featured_media":1500438,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1500437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1500437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1500437"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1500437\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1500438"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1500437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1500437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1500437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}