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HD Hyundai Marine Solutions |
[Alpha Biz= Reporter Kim Jisun] HD Hyundai Marine Solutions, a comprehensive marine solutions company under HD Hyundai Group, announced on the 29th that it has secured the largest long-term ship maintenance contract in its history.
The company has signed a Long-Term Service Agreement (LTSA) with a European shipping company worth $60 million (approximately KRW 83.064 billion). This marks the largest amount for a single LTSA transaction in the company's history.
Under this contract, HD Hyundai Marine Solutions will supply parts and equipment for 38 ships belonging to the shipping company's fleet until 2029, providing stable maintenance services through dedicated engineers. The company explained that shipping companies and shipowners typically use LTSAs to minimize the time spent on parts replacement, repair, and maintenance, thereby maximizing ship operation time.
HD Hyundai Marine Solutions expects the global ship Aftermarket (AM) sector, estimated to be worth around $10 billion (approximately KRW 13 trillion), to become a stable source of revenue. Consequently, the company plans to establish a program to predict future demand for parts and equipment and optimize inventory levels.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
