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Hanwha Ocean wins 332.2 bln-won order for 1 LNG carrier

July 31, 2023

South Korean shipbuilder Hanwha Ocean Co. said Monday it has clinched a 332.2 billion-won (US$259.5 million) order to build a liquefied natural gas carrier for an Asian shipper.

The ship will be built at its shipyard in Geoje on the south coast and delivered to the undisclosed shipper in the first half of 2027, Hanwha Ocean said in a regulatory filing.

It marks the shipbuilder’s first order since it was renamed after Hanwha Group’s takeover of Daewoo Shipbuilding & Marine Engineering Co.

So far this year, Hanwha Ocean has obtained orders worth $1.47 billion to construct nine vessels, or 21 percent of its yearly target of $6.98 billion.

About two weeks ago, Hanwha Ocean was selected as the preferred bidder to build two next-generation frigates for the country’s Navy.

Hanwha Ocean edged out domestic rival HD Hyundai Heavy Industries Co. in the bidding for the Navy’s fifth and sixth Ulsan-class frigates with enhanced anti-submarine and anti-air capabilities.

The corporate logo of Hanwha Ocean Co. (Yonhap)
The corporate logo of Hanwha Ocean Co. (Yonhap)