Shipbuilding is having a moment in Washington. That’s great, but hype doesn’t float boats. Reshoring commercial shipbuilding is billed as the key to maritime security. Proponents claim benefits to naval shipbuilding, sealift capacity, and a hedge against China — builder of over half the world’s commercial vessels — its merchant tonnage for coercion. The United States does need to build more ships — and fast — to meet China’s challenges.