Fearing China, South Korea Targets Contractors on Taiwan Navy Submarines
South Korean authorities cited the risk of Chinese economic retaliation when they charged marine technology firm SI Innotec last year with violating trade laws for its work on Taiwan's new military submarine program, according to a police document seen by Reuters and two people familiar with the matter.In a Feb. 17, 2022, affidavit to a judge seeking the arrest of SI Innotec executive director Park Mal-sik, police said authorities feared a repeat of the sweeping sanctions imposed by Beijing in 2016, after Seoul decided to install THAAD, a U.S. anti-missile system.
SENESCO — The People’s Shipyard
In the fall of 1990, the Berlin Wall came down, thus unifying Germany into one nation — and marking the end of the Cold War. One year following the fall of the Iron Curtain, U.S. President George Bush and Soviet president Mikhail Gorbachev signed the START treaty, which stated that both nations would agree to dismantle all nuclear weapons. How do these events half way around the world effect U.S. builders of boats and barges? Significantly, as it turns out. It appears that the fall in nuclear submarine production has given rise to one of the country’s fast growing barge building companies. The middle to late 1980s was a watershed of sorts for the U.S. shipbuilding industry.
Wärtsilä Invests in the Steerable Thrusters
Wärtsilä Corporation will invest in the manufacture of steerable thrusters in China and the Netherlands. The investment value is $11m. In China, Wärtsilä will invest in the machinery and assembly equipment for the manufacturing of Lips Compact Thrusters in the Wuxi factory. This will allow the transfer of the assembly of such smaller type thrusters from the Netherlands to China during 2007. In Drunen, the Netherlands, the investment will cover an assembly hall including tooling for the larger Lips Modular Thrusters for offshore applications. The investment will thus enable the Drunen factory to focus on the large thrusters. The investment will support the expectations for growth in the market.
