Hanwha Ocean Hits 2 Trillion Won "Order Jackpot" in Two Days (Comprehensive)

Three VLGCs Ordered by Oceania-Based Shipowner
Six LNG Container Ships Secured from Taiwan
Yang Ming Places Follow-Up Order After One Year
Toughness and Strength Maintained Even at Minus 163°C

Aging Fleet Replacement and Eco-Friend

Hanwha Ocean secured massive orders over two days, achieving a total order intake of KRW 2.0305 trillion. After securing an order for three Very Large Gas Carriers (VLGCs) from a shipowner in the Oceania region, the company won an additional contract for six dual-fuel liquefied natural gas (LNG) container ships from Yang Ming Marine Transport in Taiwan.

An eco-friendly LNG carrier built by Hanwha Ocean. Hanwha Ocean

Hanwha Ocean announced on September 3 that it had won an order from Yang Ming Marine Transport in Taiwan for six 13,650 TEU LNG dual-fuel container ships, valued at approximately KRW 1.5527 trillion. On September 1, the company disclosed it had signed a contract worth KRW 477.8 billion to build three VLGCs for a shipowner in Oceania.

As a result, Hanwha Ocean secured ship orders totaling KRW 2.0305 trillion over two days. The VLGCs ordered on September 1 have a contract period until December 2030, while the six container ships for Yang Ming Marine Transport will be built at Hanwha Ocean's Geoje shipyard and are scheduled for sequential delivery by the second half of 2029.

This latest order from Yang Ming Marine Transport is a follow-up placed one year after signing its first newbuilding contract with Hanwha Ocean for seven 15,880 TEU LNG dual-fuel container ships in September last year.

The ships acquired under this contract will be equipped with Hanwha Ocean's independently developed 'high-manganese steel Type-B LNG fuel tank.' High-manganese steel is more cost-effective than nickel alloy steel or aluminum, while maintaining toughness and strength even in ultra-low temperatures of minus 163 degrees Celsius. According to the company, this enhances both the safety and cost-efficiency of the LNG fuel tanks.

The vessels will also incorporate the latest hull optimization technology. This aims to improve fuel efficiency, operating efficiency, and loading efficiency, thereby reducing the fuel and operating costs for shipowners, while also being designed to meet the increasingly stringent environmental regulations.

The global container ship market is shifting focus from expanded shipping capacity to replacing aging vessels and transitioning to eco-friendly fleets. As the International Maritime Organization (IMO) strengthens environmental regulations, orders are expected to increasingly concentrate on shipyards possessing eco-friendly technology and shipbuilding capabilities. In response, Hanwha Ocean is pursuing a selective order strategy focused on high value-added and eco-friendly ships.

Recently, Hanwha Ocean has been expanding its order portfolio by securing consecutive contracts for merchant ships, including container ships and gas carriers. Since the beginning of this year, the company has won orders for a total of 38 ships and projects, including 17 Very Large Crude Carriers (VLCCs), 6 LNG carriers, 6 container ships, 3 Very Large Ammonia Carriers (VLACs), 3 VLGCs, 1 wind turbine installation vessel (WTIV), 1 special-purpose vessel, and 1 onshore plant, amounting to approximately USD 7.07 billion.

This content was produced with the assistance of AI translation services.