Cerberus and HD Hyundai Partnership Seeks to Revitalize U.S. Shipbuilding

Cerberus Capital Management and HD Hyundai announced today a strategic partnership to launch Cerberus Maritime, a new investment strategy aimed at rebuilding the United States’ maritime industrial base.

The partnership aligns with the U.S. Government’s broader efforts to revitalize domestic maritime capabilities following President Trump’s April 2025 executive order “Restoring America’s Maritime Dominance,” which targets both commercial and military maritime sectors.

HD Hyundai, one of the world’s largest shipbuilders, will serve as an anchor investor to the strategy while also providing technical expertise in shipbuilding, marine engineering, and digital maritime solutions. The Korean company will explore collaboration opportunities related to US shipyards, ports, and maritime technology.

The Korea Development Bank (KDB) has also committed to facilitating investments into the Cerberus Maritime strategy, strengthening the collaboration between the maritime industries of the United States and Korea.

“We’re proud to announce this first-of-its kind partnership that brings together the strengths of Cerberus and HD Hyundai to support this historic commitment to revitalizing the U.S. maritime sector,” said Cerberus CEO Frank Bruno. “We believe our strategy can play an important role by bringing investments alongside operational and technical capabilities to high-impact opportunities.”

The announcement builds upon South Korea’s “Make America Shipbuilding Great Again” (MASGA) initiative launched in July – a partnership worth approximately $150 billion led by South Korean shipbuilders to rebuild the US shipbuilding industry. The MASGA project includes plans for constructing new shipyards in the U.S., training shipbuilding personnel, and maintaining US Navy ships.

“We believe that our partnership with Cerberus Capital will not only provide tangible support for MASGA, which aims to revitalize the U.S. shipbuilding industry, but also create new markets and growth opportunities for Korean shipbuilders,” said HD Hyundai Executive Vice Chairman Chung Kisun. “Leveraging our proven expertise and digital capabilities, HD Hyundai will support the modernization of U.S. shipbuilding and work with both nations to shape a new chapter in the global shipbuilding industry.”

Cerberus brings valuable experience to the partnership, having previously transformed maritime assets including its 2022 acquisition of the Subic Bay shipyard in Southeast Asia. Since acquisition, the shipyard has been revitalized into a multi-use facility where HD Hyundai now operates as a key tenant.

The timing of the announcement coincides with diplomatic talks between South Korean President Lee Jae Myung and U.S. President Donald Trump at the White House, where modernizing the alliance between the two countries was discussed, with President Lee expressing Korea’s desire to work with the US in shipbuilding and other manufacturing sectors.

KDB Vice Chairman & COO Kim Bock-kyu described the program as “a visionary model of cooperation in the shipbuilding industry, and a manifestation of the enduring trust and partnership between Korea and the United States,” adding that “KDB is proud to play a central role in supporting this investment imperative to ensure its success.”

This initiative comes at a critical moment for US shipbuilding, which has declined to merely 0.2% of global production while China dominates with 74% market share. The partnership marks an important step toward reversing America’s maritime decline and strengthening its industrial base against China’s shipbuilding supremacy. 

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