HD Hyundai announced on Sunday, June 22, that it recently held a signing ceremony with US-based Edison Chouest Offshore (hereinafter referred to as ECO) to establish a strategic and comprehensive partnership for the construction of US commercial vessels.
The signing ceremony was held on Friday, June 20, at ECO’s headquarters in New Orleans, Louisiana. The event was attended by Hannae Choi, Head of Planning at HD Korea Shipbuilding & Offshore Engineering, and Gary Chouest, Chairman of ECO. During the ceremony, the two companies agreed to cooperate on the construction of LNG dual-fuel containerships.
ECO is a US-based shipbuilding group that operates five commercial shipyards across the country. The company has built and currently operates a fleet of 300 Offshore Support Vessels (OSVs), demonstrating world-class competitiveness in the OSV sector. Notably, ECO has recently formed the United Shipbuilding Alliance (USA) in partnership with Bollinger Shipyard, the largest privately-owned shipbuilding group in the United States, to further strengthen the nation’s shipbuilding capabilities.
According to global shipbuilding and shipping market analytics firm Clarkson Research, US shipyards received orders for only three 3,600 TEU-class containerships from US shipping companies over the three-year period from 2022 to 2024. In response, ECO sought collaboration with HD Hyundai, the world’s leading shipbuilder. HD Hyundai agreed to form a strategic partnership with ECO, recognizing the opportunity to expand its business in the US market and to strengthen ties with a key ally. Both parties expect that the partnership will help significantly enhance the US global shipbuilding competence.
Under the agreement, the two companies plan to jointly build mid-sized containerships at ECO’s shipyards by 2028. HD Hyundai will support the initiative by providing ship design support, equipment procurement services, and construction technology assistance, as well as by partially manufacturing and supplying ship blocks. The company will further contribute by investing in key technical assets. Through this collaboration, both parties aim to gradually expand their partnership into other areas, including icebreakers, naval vessels, and cranes.
“The United States is a strong ally and an important business partner for us,” stated an official from HD Hyundai. “Through our collaboration with ECO, we aim to actively support US efforts to revitalize its shipbuilding industry and strengthen national security.”
Meanwhile, HD Hyundai is continuing to commit to strengthening US–Korea cooperation in the shipbuilding and maritime sectors. In April of this year, HD Hyundai signed business agreements with Huntington Ingalls Industries, the largest defense shipbuilder in the United States, and Fairbanks Morse Defense, a key supplier of defense-related equipment. In addition, in July of last year, the company signed a memorandum of understanding (MOU) for educational cooperation with the University of Michigan and Seoul National University, aimed at fostering talent in the shipbuilding industry.
