Inauguration Marks Strategic Move to Bolster Marine Business Operations

Hanwha Ocean has inaugurated its first European marine business base, the Global Project Center (GPC), in Amsterdam, Netherlands, in a strategic move to bolster its presence in the expanding marine market. The opening ceremony for the GPC was held on Nov. 4, marking a significant milestone for the South Korean shipbuilding and marine engineering company.

The GPC is set to play a crucial role in Hanwha Ocean’s operations, focusing on marine engineering and project management. The center plans to employ approximately 100 personnel until 2026, after which its operations will be adjusted based on the volume of orders received. This initiative is part of Hanwha Ocean’s broader strategy to respond proactively to the growing marine market, which is projected to expand from its current size of approximately $12 billion to $18 billion by 2029.

A Hanwha Ocean official highlighted the anticipated benefits of the new center, stating, “We expect synergy effects between local personnel and dispatched headquarters staff at the Amsterdam GPC.” The official further elaborated on the company’s ambitions, adding, “We aim to expand our overseas market presence by entering the overall value chain, including offshore plants and offshore wind power generation.”

The establishment of the GPC in Amsterdam is a strategic choice, given the city’s status as a significant hub for marine and offshore engineering. Amsterdam’s rich ecosystem of companies and expertise in the field provides an advantageous environment for Hanwha Ocean to enhance its capabilities and market reach.

In addition to the GPC, Hanwha Ocean is actively pursuing a public tender for shares in Dyna-Mac Holdings, a Singapore-based manufacturer specializing in floating marine facilities. The company has recently secured more than 50% of the shares in Dyna-Mac Holdings, further strengthening its position in the global marine market.

Hanwha Ocean’s multi-yard strategy, which involves expanding production bases in the marine business sector, is expected to enable the company to respond more effectively to the global market situation. This approach will provide the flexibility and capacity needed to meet the increasing demand for new floating production storage and offloading (FPSO) units, particularly in regions such as Brazil, Guyana, and West Africa.

Source : Businesskorea