The two companies plan to sign a supply contract for a ‘Shipyard Modernization Consulting Program’ within this year and have decided to use the Fraser Shipyards on the shores of Lake Superior as a demonstration model. The Great Lakes region is a traditional hub for shipbuilding and maintenance in the US, and it is recently emerging as a core area for the ‘Maritime Prosperity Zone’ initiative promoted by the US government.

Fraser Shipyards is currently participating in projects such as the new light icebreaker program for the US Coast Guard through the ‘Great Lakes Shipbuilding Alliance’. Once HD Hyundai’s advanced operating techniques are introduced, the modernization speed of aging US shipbuilding facilities is expected to accelerate. This also aligns with the policy direction of the local government, which seeks to strengthen shipbuilding capabilities within the US.

Patrick Kelly, CEO of Fraser Industries, expressed his expectations, stating, “Collaboration with HD Hyundai, which possesses the world’s best technological capabilities, will be an important starting point for the revival of the US shipbuilding industry.”

Kim Hyung-kwan, CEO of HD Korea Shipbuilding & Offshore Engineering, emphasized, “We will support Fraser Shipyards to become a base for rebuilding the US shipbuilding industry by providing know-how from shipyard design to operation,” adding, “As a reliable partner of the US shipbuilding industry, we will join the innovation journey.”

HD Hyundai plans to continue rolling out multifaceted activities in the future, including local shipbuilding cooperation in the US and workforce training.

The promise of ‘supporting a new maritime renaissance in the US’ mentioned by HD Hyundai Chairman Chung Ki-sun last year has entered a concrete implementation stage through this modernization project.

Source: BusinessKorea