By Diplomacy Journal Lee Kap-soo

Hanwha Ocean signed a Master Ship Repair Agreement (MSRA) with the U.S. Navy, marking an important milestone in consolidating the company's reputation in the global defense market through enhanced cooperation with the U.S. naval shipbuilding sector.

The MSRA, which represents Hanwha Ocean’s shipbuilding and maintenance, repair, and overhaul (MRO) capabilities in the global market, is granted by the U.S. Navy to companies that fulfill stringent quality standards for ship maintenance services. 

Hanwha Ocean underwent a rigorous evaluation process in April to secure the MSRA certification for its Geoje Shipyard. The agreement qualifies the company to participate in MRO projects involving U.S. Navy vessels.

The agreement comes on the heels of Hanwha Ocean’s recent acquisition of Philly Shipyard, which is expected to drive the company’s entry into the U.S. market and expand its MRO reach in the U.S. 

The MSRA certification and the Philly Shipyard acquisition together will help Hanwha Ocean consolidate its reputation in the global naval shipbuilding market, demonstrating its MRO expertise and reinforcing its commitment to continuous technological innovation and quality improvements.

Hanwha Ocean is a leading global company with extensive expertise and experience in the shipbuilding and offshore industry. Boasting the world’s most competitive LNG carriers built with eco-friendly and highly efficient technology, the company has continuously pioneered new businesses since 1973, producing a vast range of vessels, including commercial ships, drillships, and specialty ships.