HD Hyundai's institutional sector intermediate holding company for shipbuilding, HD Korea Shipbuilding & Offshore Engineering, said on the 30th that it will support modernization of U.S. shipyards of Fraser Industries.
Kim Hyung-kwan of HD Korea Shipbuilding & Offshore Engineering signed a "business agreement on cooperation for shipyard modernization to revive the U.S. shipbuilding industry" with Patrick Kelly of Fraser Industries in Washington.
The company said this agreement is the first case carried out after adding "digital engineering and manufacturing platform development and supply" to the articles of incorporation in March and presenting a "comprehensive shipyard construction solution" as a future growth engine.
Under the business agreement, the two companies will cooperate across the entire cycle from shipyard establishment to operation, including shipyard diagnostics and solution derivation, yard and plant layout design, introduction of robots and automation facilities, expense, process, quality and productivity optimization, application of AI and data-based digital solutions, expansion of supply chains, and training of technical personnel.
HD Korea Shipbuilding & Offshore Engineering will provide as a package the elements and technologies needed to realize a smart shipyard, such as shipyard design and construction know-how, production and operation systems, and data management methods. HD Korea Shipbuilding & Offshore Engineering said, "We plan to pass on 'how to build and operate a shipyard.'"
HD Korea Shipbuilding & Offshore Engineering and Fraser Industries plan to sign a supply contract for a "shipyard modernization consulting program" within the year. The plan is to use the Fraser Shipyard on the shores of Lake Superior, one of the Great Lakes, as a demonstration model for rebuilding the U.S. shipbuilding industry.
The Great Lakes region has a supply chain in place as a hub for shipbuilding and maintenance activities in the United States. Fraser Shipyard, Fincantieri Marine Group, and Donjon Marine have formed the Great Lakes Shipbuilding Alliance and are jointly participating in the U.S. Coast Guard's new medium icebreaker project.
Kim Hyung-kwan of HD Korea Shipbuilding & Offshore Engineering said, "We plan to support Fraser Shipyard to become a hub for rebuilding the U.S. shipbuilding industry by providing the know-how needed from shipyard design to operation."