Hanwha Ocean announced on July 22 that it has signed a Master Ship Repair Agreement (MSRA) with the United States Naval Supply Systems Command. This agreement allows Hanwha Ocean to officially participate in the bidding process for the U.S. Navy’s Maintenance, Repair, and Overhaul (MRO) projects over the next five years.
The MSRA is a crucial contract for private shipbuilding companies seeking to perform maintenance and repairs on U.S. naval vessels, signifying that the company meets the quality and reliability standards set by the U.S. government.
The South Korean shipbuilder applied for the MSRA in January and underwent an on-site inspection at its Geoje shipyard at the end of April. While the MSRA process typically takes over a year from application to agreement, Hanwha Ocean completed it in just seven months. The company attributes this expedited approval to its advanced ship technology and robust maintenance infrastructure, which received high marks from the U.S. Navy.
Hanwha Ocean has also recently acquired Philly Shipyard, which features the largest commercial dock in the U.S. This facility is expected to be utilized for MRO operations for U.S. naval vessels in the future.
