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☆ Weak shipbuilding could be the US Navy's Achilles' heel in a war with China
▼ + stars: | 2024-11-17 | by ( Chris Panella | ) www.businessinsider.com time to read: +14 min

The US Navy faces critical shipbuilding problems that could hobble it in a war with China. China's commercial and military shipbuilding capacity overshadows the rest of the world. China has pursued shipbuilding dominance over the past few years, building a massive naval fleet. Long-term investments and solutions are needed to fix the US Navy's shipbuilding problems. US Navy photo by Mass Communication Specialist Seaman Erwinjacob Miciano/ReleasedThe US Navy's shipbuilding woes aren't new, and there simply isn't a quick fix.

Persons: Shelby Oakley, Oakley, Paula Zorensky, Gerald R, Petty, Alex Smedegard, Bryan Clark, who's, Mackenzie Eaglen, Seaman Wesley J, Bryan McGrath, Matthew Funaiole, McGrath, Seaman Erwinjacob Miciano, Lisa Franchetti, Franchetti, John Harris, Campbell Organizations: US Navy, US, Getty Images China, Newport News Daily Press, TNS, Navy, Huntington Ingalls Industries, General Dynamics, Marinette Marine Corporation, of, Pentagon, USS Enterprise, Getty Images Navy, Shipbuilders, GAO, Shelby, Norfolk Naval Shipyard Shipbuilders, Shipbuilders Council of America, Ford, Columbia, Hudson Institute, American Enterprise Institute, Communication, Jiangnan Shipyard, Shipyards, China State Shipbuilding Corporation, China Power, Center for Strategic, International Studies, People's Liberation Army, of Naval Intelligence, Technological, Department of Defense, Pacific . US Locations: China, US Navy, Virginia, Columbia, Shelby West, Jiangnan, Dalian, Huangpu Wenchong, Hong Kong, Hudong, Shanghai, Beijing, Taiwan, Pacific, Japan, South Korea

☆ The shipbuilding empire fueling China's naval rise is a juggernaut, but tough questions remain
▼ + stars: | 2024-09-28 | by ( Chris Panella | ) www.businessinsider.com time to read: +9 min

China's massive shipbuilding industry is key to its military's naval modernization. But military corruption and future maintenance issues raise questions about long-term sustainability. AdvertisementChina's shipbuilding industry is at the core of its efforts to modernize its navy, producing new warships at astonishing speeds. This important national ambition gives tremendous support to China's shipbuilding empire. Over the years, there have been signs of extensive corruption documented within the shipbuilding industry, as well as other parts of China's defense industry.

Persons: —, Gerald R, it's, it'll, Brian Hart, Matthew Funaoile, Funaoile, That's, Mike Sweeney, Sweeney Organizations: Service, of Naval Intelligence, Navy, Department of Defense, US Navy, Ford, Pentagon, Liberation Army Navy, Getty, Jiangnan Shipyard, Zhonghua Shipyard, China Power, Center for Strategic, International Studies, Getty Images, CSIS, Business, China State Shipbuilding Corporation, PLA, People's Liberation Army, Planet Labs PBC, U.S . Navy, Maxwell, Defense Locations: China, Fujian, Jiangnan, Getty Images China, Dalian, Huangpu Wenchong, Hong Kong, Hudong, Shanghai, Beijing, Wuhan

☆ These big shipyards are China's shipbuilding power players and are cranking out new warships at a breakneck pace
▼ + stars: | 2024-09-21 | by ( Chris Panella | ) www.businessinsider.com time to read: +8 min

Read previewIt is no secret that China's shipbuilding capacity is unmatched on the world stage and that its shipyards are churning out new warships at a breakneck pace. China's shipbuilding industry has over 230 times the capacity of the US, according to recent estimates from the Office of Naval Intelligence, representing about 50% of the total global shipbuilding capacity. The shipyards building China's navyDalian is another significant Chinese shipyard and was site of production for the CNS Shandong aircraft carrier. The China Power Project at CSIS has carefully documented developments in Chinese shipbuilding, including work at the yards and new vessels. That push in military shipbuilding is propelled by China's political motivations and blue-water navy goals.

Persons: —, Brian Hart, Matthew Funaoile, It's, it's, Funaoile, Hart, Xi Jinping Organizations: Service, Business, of Naval Intelligence, Jiangnan Shipyard, Liberation Army's, Pentagon, US, PLAN, Shandong, China State Shipbuilding Corporation, Fujian, Wuchang Shipyard, Fujian Maritime Safety, Zhonghua Shipyard, China Power, Center for Strategic, International Studies, CSIS, Airbus, Getty, Communist Party, PLA Locations: Dalian, China, Huangpu Wenchong, Hong Kong, Jiangnan, Hudong, Shanghai, Bohai, Wuchang, Wuhan, Taiwan, Fujian, Zhonghua

☆ Foremost Group CEO Angela Chao died after car went into Texas pond, sheriff says
▼ + stars: | 2024-02-16 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Angela A. Chao hosts The New York City Opera Pre-Gala Celebration at a private residence in New York City on Oct. 21, 2010. Angela Chao, CEO of Foremost Group and the sister-in-law of Senate Minority Leader Mitch McConnell, died after her car went into a pond on a private ranch about 40 miles west of Austin, Texas, authorities said Friday. On Friday, the Blanco County Sheriff's Office said in a statement that on Saturday, it "responded to a possible water rescue on a private ranch located in Blanco County, TX." "On arrival Blanco County deputies along with Blanco County EMS and Fire recovered the body of Angela Chao from a pond on the ranch," the statement said. "EMS attempted emergency measures on Ms. Chao but she succumbed from being under the water," the statement said.

Persons: Angela A, Chao, Angela Chao, Mitch McConnell, Chao's, Jim Breyer, Elaine Chao, McConnell, Donald Trump's, George W, Bush, Ben Oakley, Oakley Organizations: New York City Opera, Foremost, Wednesday, Blanco County Sheriff's, Blanco County EMS, Fire, Harvard, National Basketball, Boston Celtics, Bank of, China State Shipbuilding Corporation, Transportation, Labor, CNBC Locations: New York City, Austin , Texas, Blanco County, Blanco County , TX, Blanco, Johnson City, Austin, Bank of China

☆ China kicks off its plan to take on the cruise industry: 'There's no turning back'
▼ + stars: | 2023-09-30 | by ( Hannah Towey | Brittany Chang | ) www.businessinsider.com time to read: +7 min

After a three-year hiatus, international cruise lines can resume sailings from China. AdvertisementAdvertisementRoyal Caribbean's Wonder of the Seas, once the world's largest cruise ship, was originally scheduled for year-round sailing from China. Then COVID-19 shut down the cruise industry and China blocked sailings from international cruise lines. Now, after a three-year hiatus, international cruise lines can resume sailings from China. Enter the Adora Magic City, the first Chinese-built and operated cruise ship.

Persons: —, Kun Cao, Reddal, James D, Morgan China, Cao, Joel Katz, Asia —, Michael Bayley, Bayley, Yang Guobing, Andy Stuart, Skift, it's Organizations: Service, Seas, Royal Caribbean, Magic City, Cruise, Royal Caribbean International, China China's, China State Shipbuilding Corporation, Carnival Corporation, Publishing, Getty Images, Viking Cruises, China Merchants Group, Royal, MSC, CSSC Carnival Cruise Shipping, Xinhua, Getty, Cruise Line, Global Times Locations: China, Shanghai, Fort Lauderdale , Florida, Southern, Magic, Caribbean, Asia, Australasia, CLIA, United States, Miami, Switzerland, Royal Caribbean, —, Norwegian, Alaska

☆ The first large cruise ship built in China complete with a water park, a brewery, and 5G will sail this year — see inside
▼ + stars: | 2023-08-22 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

Adora Cruises' first ship, the Adora Magic City, will sail later this year as China's first locally built large cruise vessel. A new Carnival Corp cruise ship will hit the seas later this year. In 2015, state-owned China State Shipbuilding Corp (CSSC), the country's wealth fund China Investment Corp, and the recognizable Carnival Corp set up a contract to create a Hong Kong-based cruise company. A few years later, CSSC's Cruise Technology Development arm and Carnival announced its joint venture: Adora Cruises. But unlike Carnival's eponymous cruise line, Adora Cruises — formerly known as CSSC Carnival Cruise Shipping Limited — will only be servicing the Chinese cruise market.

Organizations: Cruises, Carnival Corp, China State Shipbuilding Corp, China Investment Corp, Corp, CSSC's Cruise Technology Development, Carnival, Adora, Cruise Shipping Locations: Magic, China, Hong Kong

☆ 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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