South Korean shipbuilder HD Hyundai Heavy Industries (HD) has entered into a Master Ship Repair Agreement (MSRA) with the US Naval Supply Systems Command (NAVSUP). Under this agreement, HHI will be eligible to bid for maintenance, repair and operations (MRO) projects for combat ships operated by the US Navy as well as support vessels belonging to the US Military Sealift Command for the next five years.
The MSRA is an agreement between the US government and private shipyards for MRO of US ships. This agreement must be signed in advance in order to participate in the MRO business for ships operated by the US.
HHI applied for an MSRA in May 2023 and completed its facility and quality due diligence in January this year, while its security and financial due diligence were completed in March and May, respectively. The company also plans to expand its MRO market coverage to other regions such as Asia and South America.
