[Market Feature] SNC Up 3.85% on Entry into US Philly Shipyard MASGA Project

The stock price of SNC, a company specializing in integrated solutions for shipbuilding equipment, is on the rise as it has officially entered the US Philly Shipyard MASGA (Make American Shipbuilding Great Again) project.

As of 11:06 a.m. on April 8, SNC was trading at 32,400 won, up 3.85% from the previous trading day.

The previous day, SNC announced that it had signed a contract to supply a navigation control system for a vessel linked to the MASGA (Make American Shipbuilding Great Again) project, which serves as the core framework for Korea-US shipbuilding cooperation.

On the same day, Korea Investment & Securities maintained its “Buy” rating and target price of 43,000 won for SNC.

Kang Kyungtae, an analyst at Korea Investment & Securities, commented on this deal, saying, “The level of trust in transactions with Hanwha Group has increased.” He added, “By expanding its client base with a variety of products in sectors such as Fuel Gas Supply Systems (FGSS), SNC’s order volume related to Hanwha Ocean last year approximately doubled compared to 2024.”

He further pointed out, “Just by securing an order for Hanwha Philly Shipyard, which serves as Hanwha Group’s forward base for the MASGA project, the reliability of SNC’s navigation control solution products has already been validated.”

He also stated, “This deal reaffirms that, under the Jones Act standards for US-made shipbuilding equipment, foreign-made navigation and communication systems are permitted,” and confirmed that, following this transaction, there is potential to expand supply of navigation control solutions to Jones Act vessels to be built by both Hanwha Philly Shipyard and Samsung Heavy Industries.

This content was produced with the assistance of AI translation services.