HJ Shipbuilding & Construction (HJSC) expects solid growth in the second half of 2025. The company is securing new orders, expanding into the U.S. Navy MRO (Maintenance, Repair, and Overhaul) market, and strengthening its finances through a successful rights offering.
New Orders Drive Momentum
In July, HJSC won a contract from H-Line Shipping for an 18,000㎥ LNG bunkering vessel. Two months later, it signed a deal with an Oceania-based shipowner for four 8,850 TEU eco-friendly container ships worth KRW 640 billion.
Shipowners cited HJSC’s strong quality, technical expertise, and timely delivery as key reasons for choosing the company. These orders support HJSC’s focus on high-value, eco-friendly shipbuilding.
Preparing for U.S. Navy MRO Operations
HJSC is expanding into the naval MRO market. On September 23, inspectors from the U.S. Naval Sea Systems Command (NAVSEA) visited the Yeongdo Shipyard to assess HJSC’s readiness for U.S. Navy MRO work.
The team reviewed facilities, safety systems, and ongoing special ship projects. They expressed strong satisfaction with HJSC’s technical and operational standards. Having passed the document and technical review stages, the company expects to sign a Master Ship Repair Agreement (MSRA) with the U.S. government as early as November.
The MSRA will officially qualify HJSC to perform maintenance and repair services for U.S. naval vessels, a major step in expanding its defense business.
Building a Domestic MRO Cluster
HJSC has created an MRO Cluster Council with shipbuilding and equipment firms in Busan and Gyeongsangnam-do. The group will develop a local supply chain for technology, skilled labor, and equipment.
This cooperation will boost innovation, strengthen Korea’s MRO capabilities, and create opportunities for joint growth and overseas expansion.
Stronger Finances for Future Growth
HJSC recently completed a rights offering, fully subscribed by its largest shareholder. The new capital strengthens the company’s balance sheet and funds key projects, including:
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Investments in eco-friendly and high-value ships,
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Expansion in MRO and defense operations, and
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Participation in the Korea–U.S. MASGA (Make American Shipbuilding Great Again) initiative.
The strong shareholder backing highlights market confidence in HJSC’s growth strategy and long-term value.
Outlook: Steady Growth Ahead
As of mid-2025, HJSC holds an order backlog of about KRW 8.8 trillion across shipbuilding and construction. This provides a solid base for continued growth.
“With strong shareholder support and clear focus, we expect steady performance in the second half,” said an HJSC spokesperson. “Our teams are united in boosting global competitiveness and driving sustainable growth.”
