US Leans on Shipbuilding Prowess of Allies to Compete With China.

The US Navy is facing challenges in its shipbuilding industry, which has experienced delays and cost overruns, making it difficult to meet the Navy's needs. In contrast, China's navy has a larger fleet and is supported by the world's largest shipbuilding sector. To address this shortfall, the US is seeking investment from allies, particularly South Korea and Japan, who have efficient and cost-effective shipbuilding capabilities. South Korean company Hanwha Ocean Co. has acquired a former Navy shipyard in Philadelphia and secured a contract to overhaul a US naval vessel, signaling a potential wave of investment. However, concerns over national security may deter foreign firms from investing in the US. Despite efforts to improve the US shipbuilding industry, it will take years to catch up to China's capacity. The US shipbuilding industry accounts for less than 1% of the world's commercial vessels, and the country relies heavily on foreign companies for shipping and shipbuilding. Hanwha's acquisition of the shipyard in Philadelphia will require substantial investments and hiring, but there are challenges in addressing the skills shortage. The shipyard has been struggling financially, and its losses have continued in recent years. Shipbuilding and shipping are seen as critical to US national security, and there are plans to compete with Russia and China in the Arctic ocean. The US is also investigating alleged unfair Chinese practices in shipbuilding and maritime logistics. The US is deepening ties with Japan and South Korea to counter threats from China and North Korea, and there [Extracted from the article]