News in Numbers

Hanwha Group has unveiled a $5bn investment plan for Hanwha Philly Shipyard in Pennsylvania, aligning with South Korea’s pledge to foster the growth of the US shipbuilding industry via a $150bn investment fund.

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has formalised a shipbuilding contract worth $1.456bn with global shipping company HMM.

UK-based integrated ship owner-operator North Star has announced an investment exceeding £400m ($545.8m) as part of its environmental, social, and governance strategy aimed at achieving a net-zero fleet by 2045.

Ferry company Stena Line and Associated British Ports (ABP) are set to begin construction on a new freight ferry terminal at the Port of Immingham on the east coast of England, marking a joint investment exceeding £200m ($264m).

Italian shipbuilder Fincantieri is reportedly taking legal action against a US-based supplier, claiming more than $100m in damages due to “fraudulently” certified fire insulation panels supplied for its ships, according to court documents.