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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

☆ Bank of America says buy this little-known nuclear energy stock
▼ + stars: | 2024-11-14 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +1 min

Nuclear fuel company BWX Technologies is "the nuclear pick [for] yesterday, today and tomorrow," according to Bank of America. Analyst Ronald Epstein reiterated his buy rating on the stock while increasing his price target to $160 from $115. BWX's primary business is providing U.S. submarines and carriers with naval nuclear reactors, nuclear fuel and other components. Although the market for SMRs is still in the beginning phases, BWX is still a key supplier in the market, per Epstein. Of the 11 covering BWX Technologies, eight rate it as buy or strong buy, LSEG data shows.

Persons: Ronald Epstein, Epstein Organizations: BWX Technologies, Bank of America, US Navy, Department of Defense's

☆ Research reveals China has built prototype nuclear reactor to power aircraft carrier
▼ + stars: | 2024-11-11 | by ( Story The Associated Press | ) edition.cnn.com time to read: +12 min

The project at Leshan is dubbed the Longwei, or Dragon Might, Project and is also referred to as the Nuclear Power Development Project in documents. This satellite image from Planet Labs PBC shows the Nuclear Power Institute of China's Site No. The site is under the control of the Nuclear Power Institute of China, a subsidiary of the China National Nuclear Corporation, which is tasked with reactor engineering research and testing. The research does not, however, provide clues as to when a Chinese nuclear-powered carrier could be built and become operational, she said. Matthew Funaiole, senior fellow at the Center for Strategic and International Studies’ China Power Project, said he doubts China’s next carrier will be nuclear-powered.

Persons: ”, Tong Zhao, Jeffrey Lewis, Jamie Withorne, Sarah Laderman, ” “, Laderman, Li Gang, Yuan Huazhi, China’s, “, Matthew Funaiole, Nick Childs, ” Childs, Childs, Zhao, ” Zhao, Xi Jinping Organizations: Thailand AP, Associated Press, “, Carnegie Endowment, International Peace, Washington , D.C, Middlebury Institute of International Studies, Nuclear, Development, China’s Defense Ministry, Foreign, Ministry, Planet Labs PBC, Nuclear Power Institute, Middlebury, Nuclear Power Institute of China, China National Nuclear Corporation, China Ship Research, Design Center, Development Project, AP, Oslo Nuclear, Open Nuclear Network, PAX, Shandong, Xinhua, US Navy, China’s People’s Liberation Army Navy, Center for Strategic, Studies, Power, Liberation Army Navy’s, International Institute for Strategic Studies, US, International, Pacific, People’s Liberation Army Navy, Defense Department Locations: Bangkok, Thailand, China, Beijing, United States, France, Washington ,, California, Leshan, Sichuan, Mucheng Township, Sichuan Province, Mucheng, Sichuan’s, Chengdu, Soviet Union, Oslo, Vienna, Sanya, Hainan Province, Soviet, Liaoning, Shandong, Fujian, Taiwan, Pacific, South China, China’s

☆ US vs. Chinese replenishment ships: The workhorses that keep aircraft carriers operating
▼ + stars: | 2024-11-10 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +12 min

Yet for all their importance, their missions would be impossible if not for the US Navy's unsung workhorses: replenishment ships. But replenishment ships also form the weakest link in the chain of American and Chinese carrier groups. Chow Chung-yan/South China Morning Post via Getty ImageChina's replenishment shipsThe US Navy has over 100 years of experience building and operating replenishment ships. Ultimately, the Chinese opted to pursue a new design for its next replenishment ships: the Type 903-class oiler. China has the largest shipbuilding industry in the world, however, enabling it to quickly build more oilers and convert some of its merchant ships into replenishment ships.

Persons: —, Jason R, Henry J, Kaiser refuels, Kenan O'Connor, Kaiser, Lewis, Clark, Dwight D, Eisenhower, Cole Keller, John Lewis, Harvey Milk, Earl Warren —, USNS Robert F, Kennedy, Chow Chung, Michael Singley, Chaganhu, Benjamin Brimelow Organizations: Service, US, Supply, Military Sealift Command, US Navy, Military Sealift Command's Combat Logistics Force, MSC, FAS, USNS Supply, Navy, General Dynamics, USNS, General Dynamics's National Steel and Shipbuilding Company, China Morning, Soviet Navy, NATO, USS Supply, Japanese Ministry of Defense, Sealift Command, Big, Global Affairs, Fletcher School of Law, Diplomacy, Business, Modern, Institute Locations: China, Red, Getty, Ukraine, Gulf, Aden, Shandong, Taiwan, Guam, South China, Pacific, USNS Pecos, Israel, Iran, West

This article is part of the Opinion series At the Brink,about the threat of nuclear weapons in an unstable world. It follows a decades-long freeze on designing, building or testing new nuclear weapons. The new buildings and cutting-edge machinery will eventually process the uranium needed to make the next generation of American nuclear weapons. Now there are an estimated 12,000 nuclear weapons in the world. It is undeniably true that the world is becoming more contentious, and nuclear weapons do deter our adversaries.

Persons: Melissa Durkee’s, Adalie, —, Warren Air Force Base Missiles Ellsworth Air Force Base Pantex Plant Minot Air Force Base Dyess Air Force Base Lockheed Martin Tinker, Todd Weeks, Weeks, you’re, Eric Helms, Helms, it’s, ”, aren’t, Robin Darnall, she’s, “, can’t, Northrop Grumman, Nunn, Walter Schweitzer, Mr, Schweitzer, Robert Oppenheimer, didn’t, Jay Coghlan, Charles McMillan, Greg Mello Organizations: U.S, Preston Veterans ’ Memorial, Dynamics, U.S . Navy, Preston Veterans ’, The Times Naval Base Kitsap Lawrence Livermore National Laboratory Northrop Grumman Nevada National Security, Air Force Base Malmstrom Air Force Base Sandia National Laboratories Los Alamos National Laboratory, Warren Air Force Base Missiles Ellsworth Air Force Base Pantex Plant Minot Air Force Base Dyess Air Force Base, Warren Air Force Base Missiles Ellsworth Air Force Base Pantex Plant Minot Air Force Base Dyess Air Force Base Lockheed Martin Tinker Air Force Base Offutt Air Force Base Kansas City National Security, Chaffee, Air Force Base Whiteman Air Force Base, Security, Laboratory Naval Submarine Base, Bay Northrop, Newport News Shipbuilding General Dynamics Electric, Submarines, Submarines Connecticut Rhode Island, Submarines Connecticut Rhode Island Virginia General Dynamics Electric, General Dynamics, Columbia, Engineering, Republican, Democratic, Office, General Dynamics Electric, Navy, NASCAR, Manhattan, Reactor, The Energy Department, National Nuclear Security Administration, Energy Department, National Nuclear Security, Fort, Missiles Wyoming North Dakota, Missiles Wyoming North Dakota Colorado Nebraska Montana America’s, The Air Force, Minuteman III, Air Force, Warren Air Force Base, Sentinel, Banner, Soviets, Air Force Base, McCurdy, Pentagon, Montana Farmers Union, Mexico South, Environmental Protection Agency, Los Alamos, Nuclear Watch, Alamos County, Atomic, Los Alamos Study, United States Locations: Preston, Conn, New England, America, Russia, China, North Korea, Iran, United States, Savannah, Manhattan, Washington, Submarines Connecticut, Submarines Connecticut Rhode Island Virginia, Narragansett, Rhode Island, Quonset, R.I, Groton, Soviet Union, Rhode Island , Connecticut, Virginia, Columbia, Tennessee, Oak Ridge, Tenn, Hiroshima, Nagasaki, Texas, Fort Knox, Missiles Wyoming North Dakota Colorado, —, Wyoming , Nebraska , Colorado , Montana, North Dakota, Plains, F.E, Wyoming, Nebraska, Banner County, Great Falls, Mont, Mexico, Mexico South Carolina, New Mexico, Los Alamos, N.M, Savannah River, S.C, Colorado, Rocky, Alamos, Nuclear Watch New Mexico, Santa Fe

☆ 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

☆ A new first-in-class Chinese attack submarine sank at a Wuhan shipyard in a pier-side accident
▼ + stars: | 2024-09-26 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

One of China's newest attack submarines sank at a shipyard in Wuhan. China's shipbuilding industry is massive and at the core of its naval modernization efforts. AdvertisementOne of China's newest nuclear-powered attack submarines sank in a Wuhan shipyard, a US official told Business Insider, confirming earlier reporting. Costfoto/NurPhoto via Getty ImagesThe submarine's sinking comes as China's shipbuilding industry continues to fuel its naval modernization plans. The Pentagon has long identified China's shipbuilding industry as key to its naval buildup, which is occurring at a rapid pace.

Persons: —, Planet Labs PBC Thomas Shugart, uWFjFFblrZ, Tom Shugart Organizations: Service, Business, Zhou, Wall Street, Planet Labs, Planet Labs PBC Thomas, Center, New, New American Security, People's Liberation Army, PLA Navy, Getty, Pentagon Locations: Wuhan, Wuchang, China, New American, Beijing

☆ China’s newest nuclear-powered submarine sank earlier this year, US official says
▼ + stars: | 2024-09-26 | by ( Oren Liebermann | Paul P. Murphy | ) edition.cnn.com time to read: +3 min

CNN —China’s newest nuclear-powered submarine sank pierside in the spring and the Chinese Navy tried to conceal the loss, according to two US defense officials. The attack submarine was the first of its new Zhou-class line of vessels, the official said, under construction at a shipyard near the city of Wuhan. “It’s not surprising that the PLA Navy would try to conceal the fact that their new first-in-class nuclear-powered attack submarine sank pierside,” said the senior US defense official. According to the latest China military power report from 2023, the PLA Navy operates six nuclear-powered ballistic missile submarines, six nuclear-powered attack submarines, and 48 diesel-powered attack submarines. The PLA Navy has 370 platforms, which includes 234 warships, according to CRS, while the US has 219 warships.

Persons: The Zhou, Zhou, It’s, ”, Tom Shugart, “ I’ve, ” Shugart, Shugart Organizations: CNN, Chinese Navy, Maxar Technologies, PLA Navy, Center, New, New American Security, People’s Liberation Army, PLA ) Navy, US Navy, Street Journal, Congressional Research Service, Navy, CRS Locations: Wuhan, The, New American, Beijing, United States, China, Washington ,

☆ 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

☆ US Navy's new submarines are 'in crisis' as costs balloon by $17 billion, lawmaker says
▼ + stars: | 2024-09-20 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

The news comes after a major report earlier this year revealed the Navy's biggest projects, including new Virginia-class submarines, were facing severe delays of up to three years. Absent today's intervention, I have zero confidence that Navy shipbuilding will get back on track." The Navy attributed shipbuilding delays across its top programs to COVID-19's impact on the workforce and supply chain. "Somehow, the Navy continues to assert that commitments to INDOPACOM and our AUKUS partners remain on track" despite Virginia-class delays, he said. Virginia-class submarines are considered vital to the US' role in deterring and, if necessary, fighting China.

Persons: —, Ken Calvert, Calvert, Carlos Del Toro, Christopher Kastner, Politico, Del Toro Organizations: Service, Business, Navy, California Republican, General Dynamics Corp, Huntington Ingalls Industries, U.S . Navy, Shipyard, White, DOD, Pentagon, US Navy Public Affairs, Columbia, US Navy, US, Royal Australian Navy Locations: Virginia, California, Columbia, China, Australia

☆ Harland & Wolff, the company behind the Titanic, declares itself insolvent
▼ + stars: | 2024-09-16 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Harland & Wolff, the 163-year-old firm that built the Titanic, has declared itself insolvent after failing to secure funding to continue trading. The Titanic under construction at a Harland & Wolff shipyard in Belfast. Krista Few/Corbis/Getty ImagesThis is not the first time that Harland & Wolff has prepared for bankruptcy. Last year, Harland & Wolff, which completed the Titanic in 1912, delivered its first finished vessel from its historic Belfast site in two decades. Activity on the Islandmagee project will also continue as normal, Harland & Wolff said.

Persons: London CNN — Harland, Wolff, Harland, —, ”, Russell Downs, Krista Few, Harland & Wolff, Matt Roberts, GMB Organizations: London CNN —, Administration, UK Export Finance, Belfast, Harland, Storage, “, UK’s Ministry of Defence Locations: United Kingdom, “, Belfast, British, Northern Ireland, Scotland

☆ Canada's 'shoestring' navy needs drastic changes to buy the new submarine fleet it wants
▼ + stars: | 2024-07-28 | by ( Michael Peck | ) www.businessinsider.com time to read: +8 min

Submarines could be very useful for defense of Canadian territory, or asserting a presence in contested Arctic waters. But tripling Canada's submarine fleet will require more than buying new boats. AdvertisementThough Canada acquired its first submarine in 1914, its recent experience with undersea boats has not been a happy one. In 1998, the Royal Canadian Navy bought four used British Upholder-class diesel-electric subs that became surplus as Britain switched to an all-nuclear submarine fleet. Several foreign shipbuilders have expressed interest in selling subs to Canada, including South Korea's Hanwha Ocean and Sweden's Saab.

Persons: —, Paul Mitchell, Mitchell, Refits, Sweden's, Michael Peck Organizations: Service, Royal Canadian Navy, NATO, Business, Canadian Forces College, Canada's Department of National Defense, East, Pacific, RCN, Britain, Sweden's Saab, Canada, Shipbuilding Strategy, Royal Canadian Air Force, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Canada, Britain, Germany, Victoria, Canadian, Russia, China, Pacific, Davis, Taiwan, Japan, Korea, Barents, West, British Columbia, South, Forbes

☆ Election Live Updates: Republicans Leave Convention Unified Around Trump
▼ + stars: | 2024-07-19 | by ( Jim Rutenberg | Adam Nagourney | ) www.nytimes.com time to read: +74 min

And there was great, great sorrow. They’re going to be OK. They’re going to be doing very well. Now he’s going to get on the plane in a little while and he’s going to go back home to his wife. Great, great student at Yale. So many — just so many heroes, so many great, great people.

Persons: Dana, Bob, ”, Lee, you’ll, it’s, didn’t, Nobody, “, I’m, Corey Comperatore, David Dutch, James Copenhaver, We’re, Corey, Helen ., David, James, Dan Newlin, Dan, Trump, —, Aileen Cannon, I’ve, Don, Kimberly, Ivanka, Jared, Eric, Lara, Tiffany, Michael, Barron, he’s, “ Dana won’t, That’s Lee Greenwood, … Eric, Crazy Nancy Pelosi, They’ve, Jason, Jason Aldean, Vance, Usha, He’s, He’ll, MAGA, ” MAGA, I’ll, you’re, nobody’s, We’ve, Somebody’s, they’re, It’s, can’t, We’ll, don’t, “ I’m, we’ll, Biden, They’re, that’s, you’ve, I’d, gee, You’d, That’s what’s, Donald Trump, That’s, There’s, Tom Homan, Brandon Judd, They’ll, Obama, They’d, “ You’ve, we’re, we’ve, Hannibal Lecter, Dwight D, Eisenhower, Jocelyn Nungaray, Rachel Morin, Rachel, Laken Riley, horrifically, Viktor Orban, what’s, Bush, it’ll, Kim Jung Un, Sam Brown, Sam, You’ve, Abdul, Don’t, You’re, Ronald Reagan, America’s, Franklin Graham, Franklin, Billy Graham, he’d, soldiered Organizations: of Pennsylvania, Secret Service, Service, Democrat, Republican Party, Republican, Democrats, America, Yale, ISIS, Space Force, Energy, Apple, Trump, Republican Senate, White, Republicans, United Auto Workers, Social Security, Border Patrol, ICE, ”, Lambs, University of Georgia, “, U.S, Senate, Washington, D.C, Yankee, Win Locations: America, United States, Butler Township, of, Pennsylvania, Florida, Ohio, Milwaukee, Wisconsin, Asia, Europe, Taiwan, Korea, Philippines, China, Russia, Ukraine, Israel, Iran, Germany, Mexico, Nevada, United States of America, There’s, South America, Africa, Middle East, Venezuela, Caracas, El Salvador, Houston, Los Angeles, Maryland, Hungary, “ Russia, Georgia, Crimea, Syria, Iraq, North Korea, Afghanistan, Bagram, Cuba, Miami, U.S.A, Wisconsin , Wisconsin, Washington, Japan, Delaware, Valley Forge, Yorktown, Gettysburg, Midway

☆ Taiwan is one-upping Ukraine's navy to defeat a Chinese invasion
▼ + stars: | 2024-06-15 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

Read previewTaking a cue from Ukraine's use of naval drones to offset a superior Russian fleet, Taiwan has unveiled a much larger unmanned kamikaze boat that could devastate a Chinese amphibious force. But if not this one, Taiwan will certainly field some kind of unmanned attack boat to try to stop a Chinese invasion or blockade. AdvertisementBoth Taiwan and America are looking to what has become the gold standard in naval drone warfare: Ukraine's campaign in the Black Sea. Instead, Russia's Black Sea Fleet has retreated from Ukrainian waters. In part this is because of land-based anti-ship missiles such as the Neptune, which sank the cruiser and Black Sea Fleet flagship Moskva in 2022.

Persons: —, Samuel Paparo, Paparo, Magura, Michael Peck Organizations: Service, Liberty Times, Business, Pacific Command, Washington Post, US, Sea Fleet, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Russian, Taiwan, China, America, Ukraine, Moskva, Japan, Forbes

☆ How to behave as a superyacht guest
▼ + stars: | 2024-06-09 | by ( Madeline Berg | ) www.businessinsider.com time to read: +8 min

Meantime, Giorgio Armani held a party on his yacht for the likes of Sydney Sweeney and Kerry Washington. Being a guest on a superyacht is probably the best kind of guest to be — but the etiquette aboard the multimillion-dollar vessels comes with its own idiosyncrasies. The very few who need to know them — there are only about 5,800 yachts longer than 30 meters at sea, according to SuperYacht Times — already know them. The price to charter Triumph, a 65-meter superyacht, starts at $650,000 a week. According to the industry standard, owning a superyacht will cost 10% of its new-build price annually.

Persons: —, Mark Zuckerberg, Jeff Bezos, Barry Diller, Bezos, Koru, Bill Gates, Ari Emanuel, Leonardo DiCaprio, Eos, Diane von Furstenberg, Candice Bergen, Emma Thompson, Jason Blum, Giorgio Armani, Sydney Sweeney, Kerry Washington, they're, Rich, Fraser, he'd, Superyachts Organizations: Service, Business, SuperYacht, Palm, Breed Media, Fraser Yachts, Lamborghini Locations: superyachts, Aden

☆ Underwater superyachts? A CEO is pitching fantastical ships that can go 800ft down and stay submerged for weeks.
▼ + stars: | 2024-05-01 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +5 min

It says the M5 will be able to travel 820 feet underwater and stay submerged for a month. A promotional concept rendering for the Migaloo M5, a proposed submersible superyacht. The Migaloo concept clearly aims to cater to an increasing desire for privacy and security among the world's richest people. Bobbing about underwater in a Migaloo M5, Elon Musk wouldn't have to worry about a jet-tracking student any longer. A promotional concept rendering for the Migaloo M5, a proposed submersible superyacht MigalooIt remains to be seen if and when any prospective buyers will bite.

Persons: Christian Gumpold, —, there's, Gumpold, Migaloo, Bond, It's, Elon Musk, it's Organizations: Service, Elon, SAFE, Fast Company Locations: Austria, Austrian

☆ Fujian: China’s newest aircraft carrier heads to sea for first time
▼ + stars: | 2024-05-01 | by ( Brad Lendon | ) edition.cnn.com time to read: +5 min

Seoul, South Korea CNN —China’s newest, largest and most-advanced aircraft carrier, the Fujian, took a big step to joining the world’s largest naval fleet on Wednesday as it set out from Shanghai for its first sea trials. “The sea trials will primarily test the reliability and stability of the aircraft carrier’s propulsion and electrical systems,” read an announcement from the state-run Xinhua news agency on Wednesday. The warship was launched in 2022 and has “completed its mooring trials, outfitting work and equipment adjustments” working up to the latest sea trials, Xinhua said. A tugboat tows China's third aircraft carrier, the Fujian, away from a dock in east China's Shanghai on May 1, 2024. The American aircraft carrier USS Gerald R. Ford is seen from the air anchored in Italy in the Gulf of Trieste on September 18, 2023.

Persons: Li Tang, ”, John Bradford, Carl Schuster, Gerald R Ford, ” Bradford, Gerald R, Ford, Andrej Tarfila, Schuster, ” Schuster, Brian Hart, Yuan Huazhi, John F Kennedy, Doris Miller Organizations: South Korea CNN —, Jiangnan Shipyard, Maritime Safety Administration, Xinhua, Liberation Army, United States Navy, PLAN, Foreign Relations International Affairs, US, Pacific Command’s Joint Intelligence, Nimitz, Ford, Center for Strategic, International Studies, Analysts, American, Chinese Defense Ministry, China Power, CSIS, Times, US Navy, Enterprise Locations: Seoul, South Korea, Fujian, Shanghai, East China, Jiangnan, Shandong, Liaoning, Italy, Gulf of Trieste, China

☆ 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

☆ China's newest aircraft carrier was spotted with aircraft mock-ups hinting at what its future air wing could look like
▼ + stars: | 2024-04-18 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

New images posted to social media show China's third and newest aircraft carrier hosting aircraft mock-ups. AdvertisementChina's newest aircraft carrier appears to be sporting mock-ups of warplanes, according to new images posted to social media by a long-time China watcher. The pictures also show the Fujian's catapult system, designed to launch aircraft much like the US Navy's aircraft carriers. CHINESE AIRCRAFT CARRIER, JIANGNAN SHIPYARDS, CHINA, JUNE 18, 2022: Maxar satellite imagery close up view of CV 18 Fujian Aircraft Carrier, Shanghai, China. Take a close look at China's third aircraft carrier #Fujian, which was launched in Shanghai on Friday.

Persons: —, Andreas Rupprecht, @QwaSkkn2447, Kitty Hawk, Matthew P, Funaiole, Joseph S, Bermudez Jr, Brian Hart Organizations: Service, People's Liberation Army Navy, Fujian, 10J, Ford, Department of Defense, China, Fujian Aircraft Carrier, Global Times, Center for Strategic, International Studies Locations: Fujian, China, Shanghai, Fujian “, Liaoning, Shandong, JIANGNAN, CHINA, China's, Taiwan

☆ As China's navy grows, the US fleet is on a 'downward trajectory,' maritime expert says
▼ + stars: | 2024-04-13 | by ( Polly Thompson | ) www.businessinsider.com time to read: +9 min

"It's the end of the pacifist period on the seas," Dr Steven Wills of the Center for Maritime Strategy, told Business Insider. The US fleet is still widely considered the world's most powerful navy due to its 11 aircraft carriers and cutting-edge nuclear submarine capabilities. "They're scrapping more ships than they're building, which means the US Navy is on a downward trajectory, not an upward trajectory," said Dr Salvatore Mercogliano, a maritime historian at Campbell University. Another piece of the puzzle is shipbuilding capacity. Expanding American shipbuilding capacity ought to start now, Wills said: "You don't make the arsenal of democracy overnight."

Persons: —, Dr Steven Wills, Gerald R, Ford, Nikos Libertas, Wills, Doug Livermore, Arleigh Burke, Salvatore Mercogliano, Tang Ke, Livermore, Defense Mark Esper, David Sacks, Mercogliano, That's, Xi Jinping, HECTOR RETAMAL, Sacks, I'm Organizations: Service, Center for Maritime Strategy, Business, Navy, US Navy, Campbell University, Naval, People's Liberation Army Navy, Defense, of Naval Intelligence, Council, Foreign Relations, Corpus Christi, Pearl, Naval Shipyard . US Navy, Pacific, of Foreign Relations, CSIS, US, South China, Australia Locations: China, Russia, Ukraine, Virginia, Yantai Port, Asia, America, Japan, South Korea, Los Angeles, Corpus, Taiwan, Beijing, Pingtan, China's, Pacific, Philippines, South

☆ ‘La Gabarra’: Athletic Bilbao’s one-of-a-kind trophy celebration befits one of the world’s most unique football clubs
▼ + stars: | 2024-04-09 | by ( Matias Grez | ) edition.cnn.com time to read: +6 min

CNN —Spanish soccer club Athletic Bilbao finally put an end to decades of heartbreak at the weekend and now the team and its fans are about to enjoy a unique celebration on water. Though it is now a longstanding tradition, it is one which has only occurred twice before in the club’s history. But Athletic is undoubtedly one of the most unique football clubs in the world. “Athletic touches the sky,” wrote Spanish sports newspaper Diario AS after the victory. A taboo word no longer, La Gabarra will on Thursday once again sail down the Nervión as the city celebrates its new generation of local heroes.

Persons: ‘, –, Cecilio Gerrikabeitia, Iker Muniain, Marcelo del Pozo, Gerrikabeitia, “, Williams, Nico, Iñaki Williams, Nico Wiliams, Fran Santiago, Iñaki, ”, Athletic ’, Alfonso Herrán Organizations: CNN, Spanish, Athletic Bilbao, Lions, Bilbao, Copa del Rey, Mallorca, Athletic, La Liga, City, Guggenheim Museum, del, ‘ Athletic, Athletic Club, University of, Liga, Barcelona, Basque Country, Pamplona, Copa, Diario AS, “, AS Locations: Basque, Bilbao, New York, New Jersey, Spain, France, Spanish, Pamplona, Seville

☆ The unwritten rules of superyachting
▼ + stars: | 2024-04-02 | by ( Madeline Berg | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. That means that, aside from basic safety guidelines, most of the rules of superyachting are unwritten. Superyachts are expensive to build and expensive to maintain. For a $100 million yacht, that's at least $10 million yearly going to crew, regular maintenance, insurance, fuel, and dockage. So, the most important unspoken rule of superyachting is actually that the only thing better than owning a superyacht is knowing someone else who does.

Persons: —, centimillionaires, they're, Rich, Fraser, he's, Jeff Bezos Organizations: Service, Business, SuperYacht, Palm, Breed Media, Fraser Yachts Locations: superyachts, Aiden

☆ Billionaires' superyachts are bigger, better, and have more on board than ever
▼ + stars: | 2024-03-29 | by ( Madeline Berg | ) www.businessinsider.com time to read: +9 min

And if you don't have someone on board who can whip up a Michelin-star-worthy meal, you might as well stay on land. AdvertisementThe massage room aboard the Talisman C, a $60 million superyacht for sale at the Palm Beach show. The total value of the 203 superyachts over 30 meters delivered last year was $6.4 billion, according to data from SuperYacht Times. Pampering options, be it a massage room, manicure station, or a professional-grade facial machine, are a dime a dozen. Courtesy of Breed MediaAnd what good is a massage room if no one on board can give one?

Persons: —, Ralph Dazert, Burgess, Anders Kurtén, Kurtén, Nero superyacht, Giovanna Vitelli, Champagne, Benetti's, Donald Trump, Trump, Vitelli, they're, It's, Jeff Bezos, Dazert, everything's, Nero, Jeffrey Beneville, Lana, Bill Gates Organizations: Service, Michelin, SuperYacht Times, Palm, Yachts, —, Monaco Yacht Locations: Russian, superyachting

☆ What yachting industry insiders have to say about Jeff Bezos' superyacht
▼ + stars: | 2024-03-27 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

Read previewIt's been just about a year since Koru, Jeff Bezos' $500 million megayacht, set sail from the Oceanco shipyard in the Netherlands, capturing the attention of yachting insiders and land dwellers alike. Unlike many other megayachts, Koru, which media billionaire Barry Diller's Eos inspired, is designed as a sailing yacht. AdvertisementLike most other megayachts, Koru is powered by her engines, which are reportedly innovative in their use of a kinetic energy recovery system. AdvertisementTeak or not, the yachting industry isn't generally known for being all that environmentally friendly — or indeed lowkey, so many who BI talked to didn't buy into the idea that Koru is "too much." It's the latest superyacht to capture the yachting world's attention.

Persons: —, Jeff Bezos, Koru, they'd, Federico Rossi, Barry Diller's Eos, he'd, Bezos, Lauren Sanchez, Origin's, Shephard, That's, Anders Kurtén, I'm, Jerry Jones, Bernard Arnault, Mark Zuckerberg Organizations: Service, Palm, Business, Industry, Yachts Locations: Netherlands, St, Myanmar

THE HAGUE, Netherlands (AP) — French defense industry heavyweight Naval Group has been chosen to build four new diesel-electric submarines for the Dutch navy, the government announced Friday, in a provisional deal to replace three ageing Walrus Class subs. The Dutch government did not immediately announce the price tag for the new submarines. “Our shipyards can build excellent surface ships themselves, but unfortunately we have not had any Dutch navy yards that can design and build submarines themselves for more than 25 years," Economic Affairs Minister Micky Adriaansens said in a statement. Instead, Australia had struck a deal with the United States and Britain to provide submarines powered with U.S. nuclear technology, which French leaders said was sealed behind their backs. In a move to heal relations with France, Canberra later agreed to pay Naval Group a 555-million-euro settlement for breaking the contract.

Persons: “, Micky Adriaansens Organizations: Naval, Walrus, Ministry of Defense, Barracuda, ” Naval, Saab, Economic, ”, French Locations: HAGUE, Netherlands, ThyssenKrupp, Germany, French, Australia, United States, Britain, France, Canberra

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