Hanwha Ocean Delivers Overhauled U.S. Navy Vessel

Hanwha Ocean has delivered the overhauled U.S. Navy Vessel Wally Schirra, setting a new milestone in Korea’s shipbuilding industry for the first ever maintenance, repair, and overhaul (MRO) project for the U.S. Navy, completed in just six months.

The MRO project, carried out at Hanwha Ocean’s Geoje Shipyard over approximately six months, involved comprehensive maintenance, including hull and engine repairs, major equipment inspections and replacements, and system upgrades.

During the maintenance process, Hanwha Ocean identified new maintenance elements of the vessel that had not been recognized during the initial contract and proposed solutions.

As a result, the contract was revised, significantly increasing revenue. This proactive problem-solving approach further strengthened the U.S. Navy’s trust in Hanwha Ocean.

After requiring a Master Ship Repair Agreement (MSRA) by the U.S. Navy in July last year, Hanwha Ocean secured its first project just a month later - the overhaul of Wally Schirra.

In November, the company also won a contract for the scheduled maintenance of USNS Yukon, a replenishment oiler assigned to the U.S. Navy’s 7th Fleet, further establishing its reputation in the U.S. market.

With the U.S. strengthening its vessel maintenance capabilities in the Indo-Pacific region through increased collaboration with allied shipyards, Hanwha Ocean’s successful execution of this project is expected to elevate Korea’s status as a key hub in the global naval MRO market.

Hanwha Ocean plans to expand its global MRO business beyond the United States to Asia, the Middle East, Europe, and North America, building on the success of this project.

The global naval MRO market is valued at approximately $8 billion and continues to grow. Hanwha Ocean has set a target to secure MRO contracts for five to six U.S. Navy vessels this year and plans to further expand its overseas MRO business.

“Today is the result of months of hard work and dedication by the team here at Hanwha and by the men and women of the Wally-Shirra. This serves as a reminder of the close partnership between our two countries and the opportunities we have to continue to strengthen that partnership,” said Patrick J. Moore, Command Officer of MSCOK.