Shares of South Korea's Hanwha Group and Italy's Fincantieri rose on Friday after President Donald Trump's directive opened U.S. Navy shipbuilding to overseas yards. The move is seen as a significant shift in the U.S. Navy's shipbuilding strategy, which could lead to increased collaboration and competition between domestic and foreign shipbuilders.
The directive, which was announced by Trump, will allow foreign shipyards to bid on U.S. Navy contracts, potentially paving the way for the construction of new warships and submarines in overseas facilities. This development is expected to have a significant impact on the global shipbuilding industry, with both Hanwha and Fincantieri likely to benefit from the increased opportunities.
Careers in shipbuilding and naval engineering may also be affected by this shift in policy, as the U.S. Navy looks to take advantage of the expertise and resources available from foreign shipyards. As the industry continues to evolve, it will be interesting to see how this new directive plays out and what impact it will have on the global shipbuilding landscape.