Holt refused to give up its lease in Paulsboro. Hanwha is now looking in southern states for a place to invest a chunk of the $5 billion it has pledged for U.S. shipbuilding.
Former State Senate President Steve Sweeney (left) takes a tour at the Paulsboro factory where Germany-based multinational pipemaker EEW had begun building massive cylindrical supports for New Jersey’s planned ocean wind electric plants before the program was canceled.
Hanwha Philly Shipyard says it needs a lot more space outside its 110-acre South Philadelphia complex to win lucrative U.S. Navy contracts, turn the money-losing facility profitable, and hire up to 1,000 union welders and metalworkers.
The Korean-owned yard’s leaders thought they had found just the place, four miles by barge down the Delaware River at the New Jersey-funded Paulsboro facility, vacated by the offshore wind industry when President Donald Trump killed that program. In December, Hanwha agreed to take over the lease.
But port operator Holt Logistics refused approval and sued to block the deal. After months of lobbying, Hanwha has given up and is now collecting offers from southern states that hope Hanwha will invest a big chunk of the $5 billion it has pledged for U.S. shipbuilding into their yards and future workers.
This despite the fact Hanwha’s proposal enjoyed support from federal, state, and local officials and even made it into the U.S. military budget for fiscal year 2026, which called for $110 million “to support shipbuilding industrial capacity” and steel fabrication in a manufacturing facility “formerly used for offshore wind manufacturing.”
Paulsboro Mayor John Giovannitti estimates that on a given day, there are fewer than 50 workers at the port.
Leo Holt, whose century-old company runs ports in Gloucester City and South Philadelphia, said he’s not completely averse to manufacturing around the Paulsboro terminal after his family’s plans to beef up container and bulk shipping there accelerate.
Hanwha declined to comment, confirming only that the shipyard is still looking for space “in the U.S.”
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