Hanwha Defense USA wins $269 million Navy shipbuilding contract

Hanwha Defense USA has won a $269 million contract to build a medium landing ship for the U.S. Navy and Marine Corps, with options for three more vessels, according to The Korea Times. The company said the award is its first Navy shipbuilding contract.

The award forms part of a planned 35-ship medium landing ship fleet for the Navy and Marine Corps. It also advances Hanwha's effort to expand in U.S. shipbuilding following its purchase of Philly Shipyard in 2024.

Tote Services chose Hanwha Defense USA through competitive bidding, The Korea Times reported. The selection was made under a vessel construction management program overseeing shipbuilding contracts for the Navy and Marine Corps.

The vessel will be built in Philadelphia at Hanwha Philly Shipyard. Construction is scheduled to start in the fourth quarter of 2027, according to the report.

Tote Services holds a $2.2 billion vessel construction manager contract supporting the planned fleet. The program's first ship is expected to be delivered in 2030.

Hanwha Defense USA is a subsidiary of South Korea's Hanwha Aerospace Co. It is also moving to acquire a controlling interest in Hanwha Philly Shipyard, The Korea Times reported.

Hanwha Defense USA President and CEO Michael Coulter said Hanwha had invested in the shipyard's workforce and technology since the acquisition to prepare for Navy and other federal shipbuilding work, according to The Korea Times.