U.S. shipyards are far slower and more expensive than their global competitors. Compared to China and South Korea, U.S. ships can take twice as long and cost five times as much. “There's no doubt that we have challenges and headwinds, but I also think we have a unique moment in time,” says Michael Coulter, Hanwha’s top executive in charge of U.S. operations. Hanwha bought the Philly Shipyard in 2024. He says the way to lower costs is to scale up production. #shipbuilding #manufacturing #infrastructure