Hanwha Ocean Becomes 1st South Korean Shipyard To Secure Historic Deal to Repair U.S. Navy Vessel

This marks the first time a South Korean shipyard will overhaul a U.S. Navy vessel, a major milestone for Hanwha Ocean.

Hanwha Ocean signed a Master Ship Repair Agreement (MSRA) with the U.S. Navy’s NAVSUP, showcasing its MRO capabilities.

Hanwha Ocean received MSRA certification in just seven months, a process that typically takes over a year.

The 40,000-ton U.S. Navy vessel will undergo complete maintenance and inspection at Hanwha Ocean’s Geoje shipyard.

The shipyard will use its floating shipbuilding facilities to perform onshore overhauls, enhancing efficiency.

Hanwha’s acquisition of Philly Shipyard strengthens its position in the U.S. market and expands its MRO capabilities.

This deal opens doors for Hanwha Ocean in the $15 billion U.S. MRO market and the $60 billion global ship MRO market.

The agreement, supported by South Korea’s defense agencies, reinforces defense cooperation between South Korea and the U.S.