Americas News
Hanwha Ocean to Support Ontario Shipbuilding Revival
South Korea’s Hanwha Ocean has signed cooperation agreements with Canada’s Ontario Shipyards to support efforts to revive large-scale shipbuilding in Ontario.
Under a memorandum of understanding, Hanwha Ocean will provide technical support across areas including ship design, engineering, production planning and yard processes, it said in a statement on its website on Friday.
The aim is to strengthen Ontario Shipyards’ readiness to build large vessels and support future Canadian naval programmes.
Ontario Shipyards plans to start construction of a training and recruitment vessel in 2026, with Hanwha Ocean assisting on design and construction as an early demonstration of renewed shipbuilding capability in the province.
Separately, Hanwha Ocean and Ontario Shipyards have signed a letter of intent with Mohawk College to establish a shipbuilding training hub at the Hamilton yard.
The programme will focus on apprenticeships and trade skills development to help address labour shortages in the sector.
The partners said the initiative is intended to create skilled jobs, grow local supply chains and support the longer-term rebuilding of Canada’s domestic shipbuilding capacity.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 516.00 | 8.00 | 712.00 | 9.50 |
| Rotterdam | 473.00 | 0.00 | 713.50 | 15.50 |
| Houston | 490.50 | 5.50 | 695.00 | 9.50 |
| Fujairah | 511.00 | 3.00 | 777.50 | 6.50 |
| Americas Average | 600.50 | 2.50 | 873.50 | 9.50 |
| Global 20 Ports Average | 535.50 | 3.50 | 791.00 | 6.50 |
| Global 4 Ports Average | 497.50 | 4.00 | 724.50 | 10.00 |
| Global Average Bunker Price | 570.00 | 4.00 | 827.00 | 5.00 |
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