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☆ Biden promise to rival China on shipbuilding faces a big economic problem
▼ + stars: | 2024-04-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

The Biden administration is correct that China has not played fair. But he said the nations that could rival China in shipbuilding are Asian competitors. Shipbuilding subsequently dropped to around five ships per year, which is approximately the current rate of U.S. shipbuilding. President Joe Biden speaks to members of the United Steel Workers Union at the United Steel Workers Headquarters on April 17, 2024 in Pittsburgh, Pennsylvania. Biden announced new actions to protect American steel and shipbuilding industries including hiking tariffs on Chinese steel.

Persons: Biden, Ben Nolan, Nolan, Reagan, Joe Biden, Jeff Swensen, —, Darron, Wadey, Lloyd, Matson, George Washington, Ronald O'Rourke, O'Rourke Organizations: Mitsui Shipbuilding Co, Taicang Port Economic, Technological, Future Publishing, Getty, CNBC, Shipbuilding, Global, United States, Trade, U.S . Trade, U.S, China's Ministry of Commerce, United Steel Workers, Japan's Nippon Steel, United Steel Workers Union, United Steel Workers Headquarters, Analysts, Matson Shipping, Jones Act, Philly Shipyard, CMA CGM, Matson, United, Maritime Administration, U.S ., Huntington Ingalls Industries, News Shipbuilding, U.S . Navy, U.S Navy, Newport News Shipbuilding, Virginian Pilot, Tribune, Service, Force, warfighting, Navy, Biden, Congressional Research Service Locations: Taicang Port, Suzhou, Jiangsu province, China, U.S, Japan, South Korea, United States, Pennsylvania, Pittsburgh , Pennsylvania, American, Bangladesh, U.S . Virgin Islands, Great, Mississippi, Ohio

☆ Biden to Call for Tripling Tariffs on Chinese Steel Products
▼ + stars: | 2024-04-17 | by ( Jim Tankersley | Nicholas Nehamas | ) www.nytimes.com time to read: +1 min

President Biden on Wednesday will call on his trade representative to more than triple some tariffs on steel and aluminum products from China, as part of a series of moves meant to help cushion American manufacturers from a surge of low-cost imports. Speaking to the United Steelworkers Union in Pittsburgh, Mr. Biden will ask the U.S. trade representative, Katherine Tai, to increase tariffs to 25 percent on certain Chinese products that currently face tariffs of 7.5 percent — or no tariffs at all — U.S. officials said. Mr. Biden will also announce a new trade representative investigation into China’s aggressive support for shipbuilders and other related industries, in response to a union complaint. And he will announce new initiatives to work with Mexican officials to block China from evading American steel tariffs by routing its exports through Mexico. The moves represent an escalating effort by Mr. Biden and his aides to stop a flood of low-cost Chinese exports from undermining made-in-America products — and jeopardizing a central focus of Mr. Biden’s economic agenda.

Persons: Biden, Katherine Tai, Mr Organizations: United Steelworkers Union, U.S Locations: China, Pittsburgh, U.S, Mexico, America

☆ Election Updates: Biden campaigns again in Pennsylvania, a swing state crucial to his re-election hopes.
▼ + stars: | 2024-04-17 | by ( Chris Cameron | ) www.nytimes.com time to read: +5 min

The tariffs Mr. Biden will propose raising on Wednesday were initially imposed by Mr. Trump when he was president. Mr. Biden’s stop in Pittsburgh is part of a three-day swing through Pennsylvania, a crucial battleground state that he narrowly won in 2020 and has visited more than any other. The president’s campaign is hoping to mobilize support from organized labor, a traditionally Democratic constituency from which Mr. Trump has pulled some support. On Tuesday, Mr. Biden spoke at the local union of the United Brotherhood of Carpenters and Joiners in Scranton, Pa., his hometown. “Donald Trump looks at the world differently than you and me,” Mr. Biden said in a speech that signaled his campaign’s intention to make the 2024 election a referendum on Mr. Trump.

Persons: Biden, Katherine Tai, Mr, ” Lael Brainard, Janet L, Yellen, ”, Lloyd J, Austin III, Biden’s, Donald J, ” Mr, Trump, “ Donald Trump, ” Alan Rappeport, Michael D, Shear Organizations: United Steelworkers Union, U.S, Economic Council, International Monetary Fund, Trump, CNBC, Mr, Democratic, United Brotherhood of Carpenters Locations: China, Pittsburgh, U.S, Mexico, America, Beijing, United States, Biden’s, Japan, Philippines, South China, Pennsylvania, Joiners, Scranton, Pa, Mar

☆ Watch the new US Navy supercarrier USS John F. Kennedy catapult heavy cars into a river to make sure the warship can handle planes
▼ + stars: | 2024-02-26 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

A new video shows the testing of the aircraft launch system for the Navy's new supercarrier. The USS John F. Kennedy is the Navy's second Ford-class aircraft carrier. Our #NewportNewsShipbuilding division has started topside #EMALS testing on the aircraft carrier John F. Kennedy (#CVN79). A T-45C Goshawk training aircraft attached to Training Air Wing (TAW) 1, lands aboard the aircraft carrier USS Gerald R. Ford (CVN 78) during flight operations, Sept. 12, 2020. AdvertisementIn addition to the Kennedy, two other Ford-class aircraft carriers, the Enterprise and the Doris Miller, are currently under construction at Newport News.

Persons: USS John F, Kennedy, —, James, John F, 9n3OhRDXAd, HII, Gerald R, Seaman Anton Wendler, Ford, Doris Miller Organizations: USS, Ford, aircraft, Service, Hornets, Huntington Ingalls Industries, Newport News Shipbuilding, US Navy, Training Air, U.S . Navy, Communication, Navy, Enterprise, Newport News Locations: Virginia

☆ Japan's 'Big Whale' submarines add another weapon to bottle up China's navy
▼ + stars: | 2024-02-10 | by ( Ben Brimelow | ) www.businessinsider.com time to read: +9 min

Named, JS Raigei (“Thunder Whale” in Japanese), the diesel-electric attack sub is the fourth boat of the Taigei-class , which translates to “big whale.”Its launch comes almost exactly one year after the launch of the third Taigei-class sub, JS Jingei (or “Swift Whale”). With a building time of about two years each, Japan has launched a new Taigei-class sub every year since 2020. China’s current sub fleet, numbering some 59 boats, includes approximately 10 improved Kilo-class , 12 Type 039-class , and 21 Type 039A-class diesel-electric attack subs. Japan is building a larger submarine fleet but it is still only about a third the size of China's. AdvertisementJapan has so far launched four Taigei-class submarines since 2018; JS Taigei, JS Hakugei, JS Jingei, and JS Raigei.

Persons: —, JS, Japan’s, ”, Li Organizations: Service, Kawasaki Heavy Industries, JS Raigei, Jingei, Self, Defense Force, AIP, JS Ōryū, JS Tōryū, JS Taigei, US Navy, Center for Strategic, International Studies, JS Hakugei, JS Jingei Locations: Japan, Kobe, Soviet Union, Russia, China, Beijing, Taiwan, East, South China, Miyako Strait, Philippines, Australia, South

☆ Self-navigating ships could change the shipping industry. Here are the companies poised to benefit
▼ + stars: | 2024-02-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

Worldwide, the autonomous ships market reached $4.13 billion in 2022, and is forecasted to grow to $10.1 billion in 2032, according to Emergen Research . Avikus said this journey marked the first time autonomous navigation successfully enabled a large vessel to complete a trip over 10,000 kilometers. HiNAS 2.0 deployed a level-three autonomous navigation system, meaning that human intervention is only deployed in an emergency situation. The success of the HiNAS 2.0 and Prism Courage journey marked a foray into greater commercialization and implementation of autonomous ship navigation technology. The company is aiming for its fully autonomous ship technology to reach full-scale commercialization by 2025.

Persons: Patrick Ryan, Covid, Courage, Avikus, Carol Schleif, Rudy Negenborn, — Ryan, Ryan, BMO's, Morgan Stanley, Ravi Shanker, Shanker, Hunt, C.H, Robinson, Negenborn Organizations: Research, American Bureau of Shipping, Hyundai, Yara International ASA, Yara, BMO Family, Delft University of Technology, Moeller, Maersk, Yara International, Mitsui, Mitsui O.S.K, Royce, Shipbuilders, Expeditors International Locations: Covid, Avikus, Freeport, of Mexico, Panama, Korea, Red, Suez, U.S, Danish, American, ADRs, Japan

☆ The Pandemic Blunder Weighing on the Shipping Industry
▼ + stars: | 2023-11-29 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

Nov. 29, 2023 10:00 am ETShipbuilders have orders totaling about 26% of the world’s containership capacity. Photo: roslan rahman/Agence France-Presse/Getty ImagesContainership operators rushed to order new vessels during the pandemic as booming demand for consumer goods was expected to fuel global trade for years to come. Their timing couldn’t have been worse.

Persons: roslan rahman Organizations: Shipbuilders, Agence France

☆ Ukraine's strike on a brand-new missile carrier could force Russian shipbuilders further away from the war, UK intel says
▼ + stars: | 2023-11-07 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Ukraine's strike on a Crimean shipyard poses a problem for Russia's fleet, UK intel said Monday. Ukraine said the Askold, a brand-new cruise missile carrier, was badly damaged in the attack. The strike may force Russia to move its shipbuilding to safer waters, the UK MOD said. A spokesperson for Ukraine's air force, Yuriy Ihnat, named the damaged ship as the Askold, one of Russia's most advanced corvettes. A Ukrainian air force commander hinted that it was struck by a French-supplied SCALP missile, also known as a Storm Shadow missile .

Persons: —, Saturday's, Volodymyr Zelenskyy, Yuriy Ihnat, Ihnat Organizations: intel, MOD, Service, UK's Ministry of Defence, Zaliv Shipbuilding Locations: Ukraine, Russia, Crimea, Ukrainian, Crimea's Kerch, Zaliv, Kerch

☆ China's massive navy is only getting bigger, and the US is looking overseas for help keeping its warships in action
▼ + stars: | 2023-10-24 | by ( Christopher Woody | ) www.businessinsider.com time to read: +8 min

For years, the US Navy has struggled to complete repairs of its ships on time. To reduce workload at domestic shipyards and keep ships at sea, the US is looking for help overseas. That number has improved, but delays persist amid other challenges at Navy shipyards. Salvor was the first ship repaired in India following the signing of a Master Ship Repair Agreement with L&T Shipyard. "It's all hands on deck within the free world right now, and I think something like that would simultaneously enhance our ability to repair ships more quickly and also be a deterrent in the Pacific."

Persons: —, MCS3 Brandon Roberson, Biden, USNS Charles Drew, USNS Matthew Perry, Salvor, Fitzgerald, Leonard Adams, Carlos Del Toro, Charles Drew, Del Toro, Joel Garcia Japan, Rahm Emanuel, Emanuel, Harry Harris Jr, Harris, Paul, Wendy Hallmark, Rob Wittman, Wittman, Mike Gallagher, Gallagher Organizations: US Navy, Service, Pentagon, Navy, MCS3 Brandon Roberson Public, Maritime Sealift Command, USNS, Larsen & Toubro Shipyard, USNS Salvor, T Shipyard, Military Sealift Command, Mazgaon, Goa Shipyard, Getty, US, White, National Press, Nikkei Asia, US Military Sealift Command, Pacific Command, USS, Puget Sound Naval Shipyard, Republican, House Armed Services Committee, Capitol, Strategic Competition Locations: Western, Washington, China, Norfolk, India, Chennai, Shipbuilders, Mumbai, Goa, Japan, Asia, Philippines, Singapore, South Korea, extremis, USS Minneapolis, St, United States

☆ 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

☆ See inside President Vladimir Putin's opulent $100 million superyacht
▼ + stars: | 2023-08-30 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +5 min

Russian President Vladimir Putin spent $32 million refitting a superyacht, a new report suggests. AdvertisementAdvertisementWhile his troops flooded into Ukraine, Russian President Vladimir Putin was spending millions of dollars on an opulent refit of one of his superyachts, according to an investigation from opposition leader Alexei Navalny's team. Advertisement Advertisement Watch: Inside Putin's secret bunker and billion-dollar palaceThe total cost of the works came to $32 million, according to the investigation. AdvertisementAdvertisement"OFAC is identifying Russia-flagged Graceful and Cayman Islands-flagged Olympia, as blocked property in which President Vladimir Putin has an interest," the US Treasury website said in a June 2022 press release. The Russian president is reportedly also the owner of the 450-foot, $700 million Scheherazade, one of the largest yachts in the world.

Persons: Vladimir Putin, Alexei Navalny's, Pyotr Stolypin, Putin, Alyaksandr Lukashenka, Russian oligarch, Roman Abramovich Organizations: Morning, Russian, Blohm, Russian Federation, US Department of, Foreign, Control, US Treasury, Ukraine Locations: Ukraine, Russian, Saint Petersburg, Hamburg, Germany, Voss, Kaliningrad, Russia, Islands, Belarus, Cayman Islands, Olympia

☆ US Navy stealth destroyer Zumwalt's deck guns are basically useless, but it's on its way to get new hypersonic missile launchers
▼ + stars: | 2023-08-04 | by ( Ryan Pickrell | ) www.businessinsider.com time to read: +4 min

Destroyer USS Zumwalt has long had problems with its main deck guns, which don't have any ammunition. The Zumwalt is changing homeports to receive upgrades including a new hypersonic missile system. US Navy guided-missile destroyer USS Zumwalt arrives in Yokosuka for a port visit, September 26, 2022. Unlike China and Russia, the US does not currently have any hypersonic weapons systems deployed. True hypersonic weapons pose a new and potentially unstoppable threat due to their ability to maneuver unpredictably at these speeds.

Persons: Zumwalt, Seaman Darren Cordoviz, Michael Monsoor, Lyndon, Johnson Organizations: Service, US Navy, Ingalls Shipbuilding, Huntington Ingalls Industries, Navy, Systems, US, Army, CPS Locations: Wall, Silicon, San Diego , California, Pascagoula , Mississippi, Ingalls, Yokosuka, Hawaii, China, Russia, Virginia

☆ The White House plan to sell Bidenomics: Hit the road, ignore the polls
▼ + stars: | 2023-07-20 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +4 min

US President Joe Biden speaks about his economic plan "Bidenomics" at the Philly Shipyard, in Philadelphia, Pennsylvania, on July 20, 2023. But the choreographed excitement and stagecraft on display in Philadelphia belied a different sentiment among voters about what's been dubbed "Bidenomics." "Together we are transforming the country, not just through jobs, not just through manufacturing, but also by rebuilding our infrastructure," Biden told a crowd of hardhat-wearing union workers who stood atop steel beams three storeys high. We've got a long way to go on the economy," Biden told the shipbuilders. "I'm here to say we have more work to do, but we have a plan that's turning things around pretty quickly."

Persons: Joe Biden, what's, I've, Biden, Patrick Murray, it's, Biden hasn't, Jennifer Granholm, Xavier Becerra, Jill Biden, We've Organizations: Philly Shipyard, CNBC, America Economic Survey, Monmouth University, Biden, Monmouth University Polling Institute, Energy, Human Services, Citigroup Locations: Philadelphia , Pennsylvania, Philadelphia, America, Philly, U.S, Monmouth, North Carolina, South Carolina, Georgia, Tennessee, Ohio , Michigan, New York

The total value of the purchases is expected to be around 800 billion rupees ($9.75 billion), according to one of the sources. Earlier this year, the government proposed a 13% hike in defence spending to 5.94 trillion rupees for the 2023-24 financial year. The marine version of Dassualt's Rafale jets, intended for India's first indigenous aircraft carrier commissioned last year, outperformed the American Superhornet F18s in tests last year for Indian requirements. India has relied on French fighter jets for four decades now. In 2005, India bought six Scorpene-class diesel submarines from France for 188 billion rupees ($2.29 billion), the last of which will be commissioned next year.

Persons: Narendra Modi's, Rajnath Singh, Modi, Singh, Krishn Kaushik, Tanvi Mehta, Kim Coghill Organizations: Rafale, Defence, procurements, Dassault Aviation, Mazagon, France's Naval Group, Mirage, Thomson Locations: DELHI, France, Paris, Pakistan, China, India

☆ Icon of the Seas: The world's biggest cruise ship is almost ready
▼ + stars: | 2023-06-27 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +4 min

Royal Caribbean International’s Icon of the Seas is a mammoth 365 meters long (nearly 1,200 feet) and will weigh a projected 250,800 tonnes. Royal Caribbean InternationalIt’s being built at Meyer Turku shipyard, one of Europe’s leading shipbuilders, in Turku, Finland. At an on-site press panel earlier this year, Royal Caribbean International president and chief executive Michael Bayley told media that the vessel was on track to join the Royal Caribbean fleet on October 26, ahead of its 2024 debut. The Icon completed its first set of sea trials on June 22, according to a Royal Caribbean statement. Royal Caribbean InternationalThe ship promises more than 40 ways to dine, drink and be entertained, many of which are included in the cruise fare.

Persons: Michael Bayley, ” Bayley Organizations: CNN, Royal Caribbean, CN, Meyer Turku, Royal Caribbean International, Royal Locations: Finland, Turku, Royal Caribbean, Caribbean, Western, Miami, CocoCay, Beach

☆ These may be the world’s best warships. And they’re not American
▼ + stars: | 2023-06-02 | by ( Brad Lendon | ) edition.cnn.com time to read: +12 min

A challenger for China’s world-beating Type 055sThe Pentagon estimates China’s navy to have around 340 warships at present, while the US has fewer than 300. Take China’s Type 055, in many eyes the world’s premier destroyer. The three Sejongs, which cost about $925 million each, are the pride of the South Korean fleet. All these Japanese and South Korean vessels are designed to incorporate US technology, weapons, spy radars and the Aegis command and control system. But then if the US, Japanese and South Korean ships use similar technology and can operate together, why does the law prevent the US from building some of its ships in Japanese and South Korean shipyards?

Persons: South Korea CNN —, China’s, Lloyd Austin, Li Shangfu, ”, Blake Herzinger, Carl Schuster, –, Schuster, Herzinger, it’s, Arleigh Burke, ., Kim, Sejong, ” Kim, Alessio Patalano, Arleigh Burkes, ” Patalano, Japan’s, ” Schuster, It’s, Travis Callaghan, “, Nick Childs, There’s, Childs, ” Herzinger Organizations: South Korea CNN, United, US Navy, US, CNN, Beijing doesn’t, United States Studies Center, Pacific Command’s Joint Intelligence Center, South Korea’s Sejong, South Korean, South Korean Navy, country’s Defense Media Agency, South, Korea Association of Military Studies, King’s College, Arleigh, Aegis, Maritime Administration, US Coast Guard, Shipbuilding, USNI News, Navy Locations: Seoul, South Korea, China, South, Taiwan, Singapore, Austin, Washington, Beijing, Japan, Australia, Hawaii, Xianyang, South Korea’s, London, Asia, Washington’s, United States, America

☆ Stalled Sister City Plan Reveals New German Wariness of China
▼ + stars: | 2023-05-10 | by ( Christopher F. Schuetze | ) www.nytimes.com time to read: +1 min

City officials in the northern German port of Kiel were flattered this year when the Chinese port of Qingdao — about 40 times its size — proposed partnering up as a sister city. The two cities had a history of cooperation dating to when the Germans helped their Chinese counterparts develop a sailing venue for the 2008 Olympics in Beijing. Almost too good, in fact, for security experts, who noted other, less innocent similarities. Kiel, home to about 250,000, hosts much of Germany’s Baltic naval fleet, Germany’s equivalent of the Navy SEALs, military research facilities and big shipbuilders making, among other things, six brand-new, state-of-the-art submarines. Qingdao, a city of more than nine million, is home to China’s North Sea fleet, a marine research academy and China’s main submariners school, which specializes in submarine hunting.

☆ Russian Shipbuilders Are Running Out of Parts
▼ + stars: | 2023-04-24 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

The Russian shipbuilding sector is facing its biggest challenge since the collapse of the Soviet Union, some executives say. Photo: Peter Kovalev/Zuma PressRussian shipbuilding behemoth United Shipbuilding Corp. is running out of key engine parts, delaying or halting the production of tankers and ocean vessels the country needs to move its oil and cargo. Soon after Russia invaded Ukraine in February 2022, the U.S. and Europe slapped Russia with sanctions and export controls that have disrupted the flow of engine parts, propellers and fuel pumps.

☆ World-class ships and new supersonic jets mark the quiet rise of a new defense industry powerhouse in Asia
▼ + stars: | 2023-03-10 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

South Korea's defense industry has seen meteoric growth in recent years. 2023 is also shaping up to be a good year for South Korea's defense industry. South Korea's defense industry was originally tailored to meet the country's own needs, and Seoul assisted its growth with subsidies and other incentives. As South Korea's defense products increased in quality, so too did its exports. The South Korean defense industry's most anticipated product might be the KF-21 Boramae, a multi-role combat jet optimized for air-superiority missions.

☆ Column: Key coal import hubs in China perk up as economy reboots: Maguire
▼ + stars: | 2022-12-21 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +4 min

China coal use seasonallyBut recent measures aimed at lifting movement restrictions and reviving economic activity in China are already resulting in increased coal import activity at key usage hubs, which stand to impact global coal flows, prices and emissions in 2023. Between January and October, the province cut thermal coal use by 51 million tonnes from the same period in 2021. As a result, many Southern China coal plants are almost overwhelmingly reliant on imported coal. And all major coal ports in that region are now starting to show signs of a recovery in coal import volumes compared with mid-2022, when lockdowns were common throughout the country. And much of that increased coal demand will be fulfilled by imports, which will serve to tighten global coal markets, boost China's coal sector emissions, and potentially raise prices for other coal consumers.

☆ 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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