HD HHI Inks MOU with Philly Shipyard for US Vessel MRO Business

HD Hyundai Heavy Industries (HHI) announced on April that it has signed a memorandum of understanding (MOU) with Philly Shipyard in Pennsylvania of the United States to provide new shipbuilding and maintenance, repair and overhaul (MRO) services for US naval and government vessels for the U.S. government.

Under the agreement, HD HHI will support Philly Shipyard expanding its U.S. shipbuilding business, by designing ships and pipelines and supplying material packages. The Korean shipbuilding giant has been cooperating with Philly Shipyard since 2005, supplying drawings and materials in the field of merchant ships. With this agreement, HD HHI will expand its cooperation for U.S. Navy, Coast Guard, and government vessels.

“We expect to further increase HD HHI’s influence in the global defense market through cooperation in the shipbuilding and MRO business with local companies in the United States,” said Joo Won-ho, CEO of HD HHI’s Special Vessel Business Division.

Philly Shipyard is part of the Aker Group, a Norwegian company specializing in marine, offshore wind power and energy. It was established in 1997 on the site of the U.S. Navy’s Philadelphia National Shipyard. Since 2003, it has built more than 50 percent of the large US merchant vessels covered by the Jones Act.

Meanwhile, HD Hyundai has recently entered into strategic partnerships with US defense companies GE Aerospace and L3 Harris to develop ship propulsion systems, MRO for U.S. warships, and win orders for Australian and Canadian ships.
Source: Business Korea