Hanwha Ocean Co., LTD.

Hanwha Ocean Co., LTD., a South Korean for-profit manufacturer, provides ship repair and maintenance services to the U.S. Navy and Army as a prime contractor, operating exclusively in full-and-open competition without set-aside designation. Based in Geoje, South Korea, the company specializes in voyage repair, regular overhaul, and emergent repair services for Military Sealift Command vessels and Army watercraft, with all work performed in South Korea and Singapore.

Hanwha Ocean's customer footprint splits between the Department of the Navy and the Department of the Army Materiel Command. The Navy's Military Sealift Command accounts for 5 awards totaling $98.3 million in combined potential value, anchored by a single-award Basic Ordering Agreement (BOA N4034524G0007) running through July 21, 2029, under which five task orders have been placed. The Army's TACOM Life Cycle Management Command holds 2 awards totaling $211.1 million in combined potential value, dominated by a multiple-award indefinite-delivery contract for Army Watercraft Sustainment Maintenance in OCONUS Zone 2 through July 30, 2031, with a $211 million ceiling. The Department of the Navy also placed 2 awards totaling $629 thousand directly, and U.S. Pacific Fleet Forces maintains the underlying BOA vehicle that anchors Navy repair work.

Recent capability examples illustrate the scale and scope of Hanwha Ocean's naval workload. A $36.2 million definitive contract modification awarded July 1, 2025, incorporated 91 negotiated change orders for Regular Overhaul services on USNS CHARLES DREW, with completion targeted for February 28, 2026. A $27.5 million delivery order placed November 8, 2024, covers Regular Overhaul Category A services on USNS YUKON, with completion scheduled for July 25, 2025. A $7.1 million definitive contract awarded September 26, 2025, funds mid-term availability services on USNS WALLY SCHIRRA, with completion dated February 8, 2026. Two smaller delivery orders in early 2026 — $354,930 for voyage repair on USNS RICHARD E. BYRD and $274,354 for voyage repair on USS MIGUEL KEITH — exemplify the ongoing tasking cadence against the BOA.

Activity has remained steady at three to four awards per calendar year since 2024, with ten total awards generating $310 million in combined potential value and $92.3 million obligated to date. The company holds no subcontractor role in the source data; all awards are prime. The portfolio concentrates entirely on ship-building and ship-repair work under NAICS 327 or equivalent marine-maintenance classification, with nine of ten awards coded to Non-Nuclear Ship Repair (West) under PSC. Hanwha Ocean's federal footprint is narrowly focused on Navy and Army watercraft sustainment in the Western Pacific region, with no domestic U.S. performance or teaming relationships reflected in the current award set.