Hanwha Ocean has secured another maintenance, repair, and overhaul (MRO) contract for U.S. Navy vessels. This marks the third contract, following those awarded in August and November of last year, and it appears the orders are continuing after a request for cooperation from U.S. President Donald Trump.

According to the defense industry on the 8th, Hanwha Ocean has won the contract for the regular repairs of the supply ship Charles Drew of the U.S. Navy's 7th Fleet earlier this month. The Charles Drew is a non-combat vessel that supplies cargo and ammunition, with a displacement of approximately 41,000 tons (t) and a length of about 210 meters and a width of 32 meters. It is of the same class as the Wally Schirr, which Hanwha Ocean previously contracted for repairs as the first in the domestic industry. The contract size is said to be in the hundreds of millions of won. A representative of Hanwha Ocean stated, 'It is correct that we have won the contract.'

The United States Navy supply support vessel USNS Wally Schirra departs after approximately 6 months of maintenance, repair, and overhaul (MRO) work at Hanwha Ocean's Geoje shipyard on March 13 this year. This is the first instance of a Korean shipyard performing major repairs on a U.S. Navy vessel. /Courtesy of Hanwha Ocean

Hanwha Ocean plans to conduct external maintenance on the hull and disassemble the internal structures such as frames for repairs, reassembling them within three months after the Charles Drew enters the Geoje shipyard. Generally, vessels enter the shipyard within 15 days of the contract being signed. Previously, Hanwha Ocean discovered damaged areas within the hull during the maintenance of the Wally Schirr and entered into an additional contract with the U.S. Navy.

This method is referred to as a change order, which extends the contract by one occasion. Industry analysts predict that this maintenance work on the Charles Drew may also include additional repairs, potentially increasing revenue.

This is the third time Hanwha Ocean has secured an MRO contract from the U.S. Navy. Following the Wally Schirr in August of last year, Hanwha Ocean won the MRO contract for the supply ship Yukon in November. The Yukon is reported to have recently completed repairs and left the Geoje shipyard. Hanwha Ocean is actively pursuing MRO contracts, including the acquisition of the Philadelphia shipyard in the U.S. for $100 million (approximately 138 billion won) in June of last year, in collaboration with Hanwha Systems.

Hanwha Ocean sees potential for continued MRO contracts from the U.S. Navy. It has set a target of securing 5 to 6 MRO contracts this year.

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