Actively Responding to Growing Domestic and International Demand for Ship Maintenance
Promoting Regional Economic Vitalization and Sustainable Joint Growth
Hanwha Ocean has officially launched a regional cooperation system with the goal of establishing the largest ship maintenance, repair, and overhaul (MRO) hub in the Indo-Pacific region.
On May 14, Hanwha Ocean held the inaugural meeting of the "Ship MRO Cluster Council" at its Geoje plant in South Gyeongsang Province. The company announced that it had signed a memorandum of understanding (MOU) with 15 shipbuilding and equipment specialist companies based in Busan and South Gyeongsang, including Seongdong Shipbuilding and SK Oceanplant, to establish a foundation for the ship MRO industry and promote regional co-prosperity.
Hanwha Ocean held the launch event of the "Ship MRO Cluster Council" on the 14th at the Hanwha Ocean Geoje Plant, attended by representatives from 15 regional partner companies and Eo Seongcheol, President of Hanwha Ocean Special Ship Division (sixth from the left in the front row). Photo by Hanwha Ocean
This council was formed in response to the growing demand for ship MRO services both domestically and internationally. Its goal is to establish a comprehensive, regionally based cooperation system and to promote joint growth. Hanwha Ocean plans to select participating companies as strategic partners and to systematize maintenance capabilities by sharing item-specific collaboration details from the early stages of contracts.
The 15 companies that signed the MOU are mostly ship maintenance and equipment firms located in Busan, South Gyeongsang, and Geoje. Based on its accumulated experience and capabilities, Hanwha Ocean has already established a production system for ship maintenance parts in cooperation with about 1,000 equipment and parts suppliers in Busan, South Gyeongsang, and Geoje.
Going forward, the council plans to focus on key tasks such as enhancing competitiveness and expanding business models for the ship MRO sector, identifying pre-cooperation models for entering domestic and overseas MRO markets, securing an equipment supply chain (SCM) from an MRO business perspective, shortening business preparation periods and minimizing risks, and improving maintenance performance and operational availability of ships.
The global ship MRO market is projected to grow to approximately 86 trillion won by 2029, with the U.S. market accounting for about 20 trillion won, making it the largest segment. Last year, Hanwha Ocean became the first Korean shipbuilder to win an MRO contract for two U.S. Navy logistics support vessels. After completing maintenance on the USNS Wally Schirra in March, the company is currently servicing the USNS Yukon in Geoje, aiming for its departure at the end of this month.
Kim Daesik, Executive Vice President in charge of Special Ship MRO Business at Hanwha Ocean, stated, "Through the formation of the Ship MRO Cluster Council, we plan to create a new growth ecosystem for the global defense industry and regional industries. We will make Hanwha Ocean's ship cluster the top MRO hub in the Indo-Pacific region and enter the North American MRO market."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
