South Korea’s Hanwha Ocean is exploring the establishment of a shipyard in Niterói, Rio de Janeiro’s metropolitan area, to strengthen its presence in Brazil’s offshore sector. This move aligns with the company’s bid for key local projects and the Brazilian government’s push for maritime infrastructure development.
Strategic Expansion into Brazil’s Offshore Sector
Hanwha Ocean disclosed its plans during a supplier-networking event focused on the oil, gas, energy, and marine industries. The proposed shipyard would support local offshore projects for which the company is actively bidding, including Petrobras’s P-86 FPSO tender launched in 2024.
As the only South Korean contender, Hanwha Ocean is seeking partnerships with Brazilian firms to meet local-content requirements, ensuring its competitiveness in the market.
Strengthening Global Offshore Capabilities
Hanwha Ocean’s Brazil ambitions follow a series of international expansions. In 2021, the company, then operating as Daewoo Shipbuilding & Marine Engineering, secured the P-79 FPSO contract with Petrobras in partnership with Saipem. More recently, in November 2024, Hanwha Ocean and Hanwha Aerospace acquired Singapore-listed Dyna-Mac Holdings, rebranding it as Hanwha Offshore Singapore in early 2025 to enhance topside construction expertise.
With the Brazilian government committing R$22bn ($3.9bn) to maritime infrastructure projects, Hanwha Ocean’s proposed shipyard in Niterói could be a timely move. If finalized, the investment would not only strengthen the company’s foothold in Brazil’s offshore market but also bolster its global standing in the shipbuilding and energy sectors.
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Source: Lloyd’s List
