HD Hyundai announced on the 22nd that it has formed a strategic and comprehensive partnership with the U.S. shipbuilding company Edison Chouest Offshore (ECO) for the construction of U.S. commercial vessels.

The partnership signing ceremony was held on the 19th (local time) at the ECO headquarters in New Orleans, Louisiana. Key officials from both sides attended the event, including Choi Han-nae, head of planning at HD Korea Shipbuilding & Offshore Engineering, and Dino Chouest, CEO of ECO.

The two companies agreed to collaborate on the construction of liquefied natural gas (LNG) dual-fuel container carriers through this partnership. They plan to jointly construct medium-sized vessels at the ECO shipyard by 2028.

HD Hyundai plans to provide ship design, equipment purchasing agency, and construction technology support, and will also manufacture and supply some blocks. There will be concurrent investment in technology assets, with plans to expand the scope of cooperation to various vessel types and port cranes.

ECO is a shipbuilding group with five commercial vessel construction yards in the U.S., currently building and operating 300 offshore support vessels (OSVs) directly. It is a globally competitive corporation in the OSV sector.

This partnership was formed after ECO requested cooperation from HD Hyundai. HD Hyundai accepted this request, considering the expansion of business opportunities in the U.S. and cooperation with allied countries. The two companies hope to enhance the global competitiveness of U.S. commercial vessel construction.

An official from HD Hyundai noted, “The U.S. is our strong ally and an important business partner,” adding that “through our collaboration with ECO, we plan to actively support efforts to rebuild the U.S. shipbuilding industry and strengthen security.”

HD Hyundai is strengthening local partnerships to expand business opportunities in the U.S. In April, it signed a memorandum of understanding with Huntington Ingalls, the largest defense shipbuilder in the U.S., and equipment company Fairbanks Morse Defense.

In July of last year, it signed a memorandum of understanding for educational cooperation to nurture talents in the shipbuilding industry with the University of Michigan and Seoul National University, among various efforts to expand cooperation in the shipbuilding and offshore sectors with the U.S.
Source: CHOSUNBIZ