HD Hyundai expands US shipbuilding push with Kiewit partnership
HD Korea Shipbuilding & Offshore Engineering Executive Vice President Choi Han-nae, right, shakes hands with Kiewit Offshore CEO Chad Johnson after the two companies signed a partnership agreement on U.S. shipbuilding at Kiewit Offshore's headquarters in Corpus Christi, Texas, Thursday (local time). Courtesy of HD Hyundai
Korean shipbuilding giant HD Hyundai has expanded its cooperation in the United States to capture new market opportunities, signing a strategic partnership agreement with Kiewit, a major American engineering, procurement and construction (EPC) company.
The Korean conglomerate said Sunday that the agreement was signed at Kiewit Offshore's headquarters in Corpus Christi, Texas on Thursday (local time). HD Korea Shipbuilding & Offshore Engineering Executive Vice President Choi Han-nae and Kiewit Offshore CEO Chad Johnson attended the signing.
Kiewit, according to HD Hyundai, is one of the largest construction, engineering and infrastructure companies in North America. The company has a strong track record in large-scale EPC projects spanning across power, energy and marine industries. It has extensive experience in manufacturing, installing and commissioning large offshore structures across North and South America.
Under the new partnership, HD Hyundai and Kiewit will explore joint ship construction in the U.S. and cooperate on producing ship blocks and modules. The collaboration aims to combine HD Hyundai’s advanced design capabilities, equipment supply chain and construction technology with Kiewit’s local manufacturing and construction expertise.
"Through our cooperation with Kiewit, we plan to actively support America's efforts to rebuild its shipbuilding industry," an HD Hyundai official said.
"We will expand our partnership into the floating, drilling and production sector to seek new business opportunities in the rapidly growing North American infrastructure market."
HD Hyundai continues to strengthen its footprint in the U.S. maritime sector. The company previously signed memoranda of understanding for domestic ship construction with Huntington Ingalls Industries and Edison Chouest Offshore in April and June of last year, respectively.
The agreement comes after a Korean consortium comprising HD Hyundai, Hanwha Ocean and the Defense Acquisition Program Administration failed to win a bid for Canada's multimillion-dollar submarine procurement project to replace the Royal Canadian Navy’s aging Victoria-class submarines. Germany’s ThyssenKrupp Marine Systems was selected as the preferred bidder.