Hanwha Ocean Wins 394.3 Billion Won Order for Two VLCCs

Selective Orders Focused on High-Value Vessel Types

Finance|
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By Yoo Hyun-wook
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VLCC built by Hanwha Ocean - Seoul Economic Daily Finance News from South Korea
VLCC built by Hanwha Ocean

Hanwha Ocean (042660.KS) has won an order for two very large crude carriers (VLCCs) worth a total of 394.3 billion won from a shipowner in North America, the company said in a regulatory filing on the 15th. The vessels are scheduled to be delivered to the shipowner by March 2030.

Including this contract, Hanwha Ocean has secured a total of 27 vessels worth about 4.61 billion dollars this year. This amounts to about 45.9% of last year's total order value of 10.05 billion dollars.

By vessel type, the orders include 17 VLCCs, six liquefied natural gas (LNG) carriers, three very large ammonia carriers (VLACs), and one wind turbine installation vessel (WTIV).

With more than three years' worth of existing work already secured, the company is continuing to pursue selective orders focused on high-value vessel types.

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Original reporting by Yoo Hyun-wook for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

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