Hanwha Ocean secures 2.8918 trillion won shipbuilding orders in September

  • Hanwha Ocean secured September shipbuilding contracts totaling 2.8918 trillion won.
  • The company disclosed a 680 billion won LNG carrier order on the 28th.
  • Hanwha Ocean became preferred bidder for Thailand's next-generation frigate program on the 9th.

Hanwha Ocean secured 2.8918 trillion won ($2.1 billion) in shipbuilding contracts during September, including a 680 billion won liquefied natural gas (LNG) carrier order disclosed on the 28th. The contracts cover six large eco-friendly container ships for Yang Ming Marine Transport, a leading Taiwanese shipping line, as well as very large gas carriers, very large crude carriers and LNG carriers. Hanwha Ocean attributed the momentum to a selective, profitability-focused order strategy and its capabilities in eco-friendly fuel propulsion and high-efficiency vessels. The company also became the preferred bidder on the 9th for the Royal Thai Navy's next-generation frigate program; a final contract after detailed negotiations would add 683.3 billion won in orders. Analysts are tracking potential medium- and long-term growth in LNG carriers, submarines, overseas naval shipbuilding, maintenance, repair and overhaul, and the U.S. market. Hanwha Ocean is also developing floating data centers, or FDCs, and has received American Bureau of Shipping (ABS) approval in concept for an internally developed 60-megawatt model. The company is preparing to commercialize the offshore business, broadening its portfolio beyond commercial vessels and defense operations.

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