<\/p>\n
The United States is reportedly set to sign a \u201ctrilateral shipbuilding agreement\u201d with Korea and Greece. There is growing expectation that U.S. warships could be built in Greece using Korean shipbuilders\u2019 technology.<\/p>\n
According to Euractiv, a European Union policy outlet, on the 19th (local time), Kimberly Guilfoyle, the U.S. ambassador to Greece, said at a forum on the 17th, \u201cKorea, the United States, and Greece will soon sign a trilateral shipbuilding agreement,\u201d adding, \u201cIt is President Donald Trump\u2019s top priority to make agreements with allies that the United States will respect and protect.\u201d<\/p>\n
Industry watchers say the three countries are likely to cooperate in building warships. On the 18th, President Trump indicated at the credential presentation ceremony for the Greek ambassador to the United States that the new U.S. Navy frigates (escort ships) could be built in Greece.<\/p>\n
President Trump said, \u201cWe will continue discussing rebuilding America\u2019s great shipyards and building frigates in Greece to create jobs and opportunities for both countries.\u201d<\/p>\n
On the 13th, the United States released the \u201cU.S. Maritime Action Plan (MAP)\u201d to rebuild its shipbuilding industry. The idea is to build initial contract volumes at allied shipyards and then, through investment into the United States, build vessels in America. Trump\u2019s remark about building U.S. Navy warships in Greece is seen as based on this plan.<\/p>\n
Some in the industry say Korea will play a significant role in future bilateral cooperation, noting Greece\u2019s weaker shipbuilding capabilities. Greece has small shipyards, but many assess that it lacks the capability to build warships that require advanced technology.<\/p>\n
Kwon Hyo-jae, a researcher at Seoul National University\u2019s Department of Naval Architecture and Ocean Engineering, said, \u201cThe United States is constrained by the Jones Act from building naval vessels domestically using foreign technology and capital,\u201d adding, \u201cBuilding ships in Greece with Korean capital and technology would be feasible.\u201d<\/p>\n
Some also view the trilateral shipbuilding agreement as a check on China, which is expanding its influence in Greece. At Greece\u2019s Port of Piraeus, where the offices of Greek shipping companies\u2014belonging to the world\u2019s largest shipowning nation\u2014are located, China, which holds port operating rights, can maintain close ties with the shippers and exert influence to place orders with its own shipyards. From the U.S. perspective, tightening ties with Greece through the shipbuilding agreement is seen as a way to curb Greek shippers\u2019 orders at Chinese shipyards.<\/p>\n
Greece\u2019s Port of Piraeus is the first major unloading port for cargoes entering the Mediterranean after passing through the Suez Canal from Asia to Europe, and China\u2019s state-owned shipping company COSCO is expanding its influence by holding 67% equity.<\/p>\n
Based on MAP and the trilateral shipbuilding agreement, the industry believes that as the share of Greek vessels built with Korean technology at U.S. shipyards increases, the influence of Chinese shipbuilders and shipping companies in Greece could decline.<\/p>\n
Yang Jong-seo, a senior researcher at The Export-Import Bank of Korea\u2019s Overseas Economic Research Institute, said, \u201cFrom the U.S. standpoint, beyond rebuilding shipbuilding, establishing a strategic merchant fleet (state-designated vessels that transport key strategic materials such as crude oil and natural gas in peacetime and are deployed for military logistics in wartime or emergencies) is a major challenge,\u201d adding, \u201cShipbuilding cooperation with Korea and Greece is an option that can achieve both goals.\u201d
Source: ChosunBiz<\/p>\n
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