Hanwha Ocean, the foremost South Korean shipbuilder, has secured a groundbreaking contract with the U.S. Navy for the upkeep, restore, and overhaul (MRO) of a 40,000-ton logistics help vessel, South Korea’s Yonhap Information Company has reported.
The contract is claimed to mark the primary occasion of a South Korean shipyard profitable an everyday overhaul deal for a U.S. Navy vessel.
The contract stipulates that the U.S. Navy’s logistics help ship will bear common upkeep at Hanwha Ocean’s Geoje shipyard in South Korea.
Hanwha Ocean views the deal as a big alternative to enter the U.S. MRO market wth the U.S. Navy, which is estimated to be price roughly $15 billion yearly.
The milestone follows Hanwha Ocean’s signing of a Grasp Ship Restore Settlement (MSRA) with the U.S. Navy in July. The MSRA, granted to firms assembly stringent high quality requirements for ship upkeep providers, permits Hanwha Ocean to take part in MRO tasks involving U.S. Navy vessels.
The corporate’s latest acquisition of American shipbuilder Philly Shipyard is predicted to additional bolster its entry into the U.S. market and develop its MRO attain.
Collectively, the developments are anticipated to strengthen Hanwha Ocean’s place within the international naval shipbuilding market.
The upkeep contract follows U.S. Navy Secretary Carlos Del Toro’s go to to Hanwha Ocean in February as a part of his broader Maritime Statecraft initiative, which goals to revive the USA as a complete maritime energy, with a selected deal with countering China’s dominant place in international shipbuilding.
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