Hanwha Ocean Secures Major Order For LPG Carrier Construction

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  • Hanwha Ocean will construct the vessel at its shipyard located in Geoje, on the south coast of South Korea, with delivery scheduled by the first quarter of 2027.
  • This year alone, Hanwha Ocean has already won orders totaling $3.39 billion, including contracts for 12 liquefied natural gas (LNG) carriers, two very large crude carriers (VLCCs), two ammonia carriers, and the recently secured LPG carrier order.
  • In 2023, the company secured orders worth $4.1 billion, indicating sustained growth and market confidence in its capabilities.
  • Hanwha Ocean, formerly known as Daewoo Shipbuilding & Marine Engineering Co., transitioned under the Hanwha Group conglomerate in May of the previous year.

Major LPG Carrier Order Amidst Rapid Growth

Hanwha Ocean Co., the world’s third-largest shipbuilder by order backlog, said Wednesday it has clinched a 176.4 billion won (US$127 million) order to build a liquefied petroleum gas (LPG) carrier for a shipper based in the Americas.

Hanwha Ocean will build the vessels at its shipyard in Geoje on the south coast for delivery to the undisclosed shipping company by the first quarter of 2027, the company said in a regulatory filing.

So far this year, Hanwha Ocean has bagged $3.39 billion worth of orders to build 12 liquefied natural gas carriers, two very large crude carriers, two ammonia carriers, and one LPG carrier. It garnered orders worth $4.1 billion for the whole of 2023.

Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering Co., set sail as the shipbuilding arm of chemical-to-defense industry conglomerate Hanwha Group in May last year.

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Source: en.yna