Shares of major shipbuilders Hanwha and Fincantieri moved higher following indications that U.S. President-elect Donald Trump intends to open domestic Navy shipbuilding to foreign yards.
The potential policy shift aims to address capacity and efficiency challenges within the U.S. defense industrial base by allowing international maritime firms to participate in naval construction and maintenance contracts. Analysts note that opening the market could significantly benefit established global defense shipbuilders with advanced manufacturing capabilities.
Market response was immediate, reflecting investor expectations of new international revenue streams for foreign marine engineering and defense contractors should the incoming administration implement the proposed reforms.
