Shipbuilding
Trump Allows Foreign Shipbuilders to Build Navy Vessels Abroad
Shares of South Korea's Hanwha Group and Italy's Fincantieri rose on Friday following President Trump's directive permitting foreign shipbuilders to construct Navy vessels in their parent shipyards. Hanwha Ocean Co stock climbed 5.6% while Fincantieri SpA gained 3.2%. The national security memorandum allows foreign builders that invest substantially in U.S. shipyards to temporarily build up to two ships abroad, including surface combatants, consolidated cargo replenishment tankers, and roll-on/roll-off vessels.
