Hanwha Ocean Denies Suspension Of Shipbuilding Business

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  • Hanhwa Ocean Co. Ltd. refuted reports that it has suspended orders in its business enterprise.
  • The shipbuilding firm, formerly Daewoo Shipbuilding & Marine Engineering Co., Ltd., further said that the speculations that it has reduced its docks.

South Korean shipbuilder Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) has refuted media reports saying it will not accept container ship orders this year, reports Container News.

Hanwha Ocean clarifies Untrue Claims

A Hanwha Ocean official said, “We have not made any decisions such as not accepting orders for specific types of ships, such as container ships.”

Last year, Hanwha Ocean received orders for 17 ships, including five liquefied natural gas (LNG) carriers, five ammonia carriers, and seven special ships, but did not receive orders for container vessels.

Boxship newbuilding orders have been dominated by Chinese shipyards which can offer lower prices due to their manpower costs.

S&P Global’s database shows that Hanwha Ocean’s present boxship orderbook comprises 25 large container ships, commissioned by Hapag-Lloyd, HMM, Mediterranean Shipping Company and Zodiac Maritime. These will be delivered between 2024 and 2025.

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Source: Container News

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