World-Class Warship Technology and Maintenance Proven
Accelerating Expansion into the Global Defense Market
Hanwha Ocean (Vice Chairman and CEO Kwon Hyukwoong) has established a foothold to officially enter the US Navy ship MRO (Maintenance, Repair, and Overhaul) business.
On the 22nd, Hanwha Ocean announced that it had signed a Master Ship Repair Agreement (MSRA) with the US Naval Supply Systems Command.
With this agreement, Hanwha Ocean has acquired the official qualification to participate in bids for MRO projects for ships designated by the US Navy for the next five years. This is seen as proof of Hanwha Ocean's ship technology and maintenance capabilities in the global market. In addition, by strengthening cooperation with the US Navy, Hanwha Ocean has solidified its position in the global defense industry market.
The MSRA is an agreement between the US government and general shipbuilding companies for the maintenance and repair of US Navy ships. It is considered an important certification that guarantees the quality and reliability of US Navy ship maintenance. Companies that obtain the MSRA through the US Navy's strict screening process are qualified to participate in various ship maintenance projects for the US Navy.
Hanwha Ocean significantly shortened the period required for MSRA certification, which usually takes more than a year, to just seven months. The company applied for the MSRA in January this year, underwent an on-site inspection at the Hanwha Ocean Geoje facility at the end of April, and recently succeeded in finalizing the agreement.
This achievement is attributed not only to the active cooperation between Hanwha Ocean and the US Navy certification body, but also to the high scores received from the US Navy for Hanwha Ocean's accumulated ship technology and maintenance infrastructure.
A Hanwha Ocean representative stated, "With the acquisition of the MSRA, we can now officially participate in the US Navy's ship maintenance business," and added, "We will accelerate our expansion into the global defense market based on technological innovation and quality improvement."
Hanwha Ocean, which is planning to enter the US ship market, recently acquired Philly Shipyard, which owns the largest commercial dock in the US, and plans to use it as a base for entering the US ship market and carrying out ship MRO projects. With the acquisition of the MSRA, Hanwha Ocean has now established a foothold for entering the world's largest defense market.
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