Hanwha Ocean Secures 1.24 Trillion Won Order For Four LNG Ships

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  • Hanwha Ocean announced a significant order valued at 1.24 trillion won of four LNG carriers.
  • Hanwha Ocean aims to increase its annual LNG construction capacity.
  • Specific delivery dates for the ships were not disclosed.

Seoul, April 2 (Yonhap) – Hanwha Ocean Co., ranked as the world’s third-largest shipbuilder by order backlog, announced on Tuesday a significant order valued at 1.24 trillion won (US$919.6 million) for the construction of four liquefied natural gas (LNG) carriers, reports EN.

Order Details and Construction Plans

The order was awarded by an undisclosed Asian shipper, and the vessels will be built at Hanwha Ocean’s shipyard in Geoje, located on the south coast of South Korea, as stated in a regulatory filing.

Specific delivery dates are not disclosed.

2024 Order Performance and Future Capacity Expansion

In the current year, Hanwha Ocean has already secured orders worth $3.27 billion for the construction of 12 LNG carriers, along with two very large crude carriers and two ammonia carriers.

This performance surpasses its total order value of $4.1 billion for the entire year of 2023.

With ambitions for expansion, Hanwha Ocean aims to increase its annual LNG construction capacity to 24 ships by 2025, up from the current capacity of 22.

Corporate Background

Hanwha Ocean, formerly known as Daewoo Shipbuilding & Marine Engineering Co., transitioned to its new identity as the shipbuilding division of the Hanwha Group, a conglomerate spanning industries from chemicals to defence, in May of the previous year.

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Source: EN

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