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☆ South Korea is working on an 'arsenal ship' in case it has to shower North Korea with missiles
▼ + stars: | 2023-08-31 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

If completed, they would be the first arsenal ships ever built and would mark another accomplishment for South Korea's burgeoning defense industry. AdvertisementAdvertisementThe arsenal shipAn illustration of a possible arsenal ship published in the US Navy's All Hands magazine in May 1995. South Korean interestA North Korean Hwasong ICBM in March 2022. Given the number and types of missiles South Korea's arsenal ships would carry, they could be involved in all three axes — all while staying mobile. AdvertisementAdvertisementHanwha Ocean's arsenal shipFew details about South Korea's arsenal ship program have been released.

Persons: Shoup, Neil Mabini, Haeseong Organizations: South, North, Service, International Maritime Defense Industry, South Korean, South Korea's Ministry of National Defense, US Navy, US, Russian Navy, Navy, RIM, MGM, Tactical Missile System, Air Force, Getty, Korea Air and Missile Defense, Korean, Daewoo Shipbuilding, Marine Engineering, Naval News, South Korea Defense Ministry, NUR Locations: North Korean, Wall, Silicon, South Korean, Busan, Soviet Union, Korean, Korea, Seoul, South Korea

NEW DELHI/BERLIN, Feb 24 (Reuters) - Germany will pursue a $5.2 billion deal with India to jointly build six conventional submarines in the country during Chancellor Olaf Scholz’s Feb. 25-26 visit, two Indian and two German sources said. Under the deal, a foreign submarine manufacturer will have to partner with an Indian company to build the submarines in India. The Indian foreign and defence ministries did not respond to requests for comment. An Indian diplomatic source told Reuters that India has asked Germany for an assurance for joint manufacturing for the submarines, not just supply-side support. Another official from the Indian foreign ministry said that “Scholz was determined to reinvigorate trade and defence ties with India”.

☆ Wall Street pros reveal their top defense stocks — and the same names keep coming up
▼ + stars: | 2023-02-08 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

The iShares U.S. Aerospace & Defense ETF (ITA), which tracks the performance of U.S.-listed aerospace and defense stocks, rose 8.8% in 2022 and is up more than 2% this year. He said defense stocks are "one way to protect the other parts of the portfolio that are under pressure." "I'm bullish on aerospace and defense stocks, and I think those are names that should be in a longer-term portfolio. The investment bank described Moog as a "transition story" that will benefit from an "extended defense spending lift." Other South Korean stocks with exposure to the defense sector include Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering.

☆ China shipyards feast on record LNG tanker orders as South Korea builders are full up
▼ + stars: | 2022-12-12 | by ( Chen Aizhu | ) www.reuters.com time to read: +7 min

Chinese shipyards this year won 45 LNG tanker orders worth an estimated $9.8 billion, about five times their 2021 order values, according to shipping data provider Clarksons Research. By late November, Chinese yards had grown their LNG order books to 66 from 21, giving them 21% of global orders worth around $60 billion. Still, Chinese yards received 19 foreign orders for LNG tankers this year and that number is likely to grow. "Chinese yards have become more attractive because of the South Korean backlog, as well as rising costs," said ICIS analyst Songer. Chinese yards' relationship with GTT also helps, he said.

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