Hanwha Ocean Secures Thai Frigate Order... Will Additional 4 Trillion Won Orders Follow?

Entering Detailed Negotiations with the Royal Thai Navy
"Strengthening Maritime Defense Cooperation"

Hanwha Ocean has been selected as the preferred bidder for the Royal Thai Navy's next-generation frigate program and has entered into detailed negotiations with the Thai Navy. Hanwha Ocean plans to use this project as a springboard to strengthen long-term naval defense cooperation with Thailand.

An artist's impression of the next-generation frigate proposed by Hanwha Ocean to the Royal Thai Navy. Hanwha Ocean

According to industry sources on September 9, Hanwha Ocean is discussing detailed terms with the Thai Navy, including technical specifications and the scope of work, before the final contract is signed.

For this project, Hanwha Ocean proposed the 4,000-ton export-type frigate 'Ocean-40F'. The project, commissioned by the Royal Thai Navy, involves the construction of a single frigate and integrated logistics support, with a total value of 16.73 billion baht (approximately 683.3 billion won). The Ocean-40F is similar to the 'Bhumibol Adulyadej', which was delivered by Hanwha Ocean's predecessor Daewoo Shipbuilding & Marine Engineering in 2018, but it is larger and equipped with improved facilities and equipment. Industry experts cite Hanwha Ocean's adoption of a platform similar to the already-operating Bhumibol Adulyadej as a key factor in winning the order, as it enables stable follow-up support.

With its selection as the preferred bidder, Hanwha Ocean intends to further expand its foundation for naval defense industry cooperation with Thailand. Although this order covers only one frigate, it is reported that Thailand plans to increase its current fleet of four frigates to eight by 2037. This is why countries such as Singapore, Spain, and Türkiye actively participated in the bidding process alongside Hanwha Ocean. If additional orders materialize, the total project size could reach up to 4 trillion won.

Hanwha Ocean plans to expand its business opportunities in the global surface vessel market, including Southeast Asia. A Hanwha Ocean representative stated, "In the upcoming detailed negotiations, we will thoroughly coordinate the conditions to deliver a frigate that satisfies both Hanwha Ocean and the Royal Thai Navy through stable project execution," adding, "We aim to derive the optimal contract terms to maximize our competitiveness in shipbuilding and business efficiency."

Active support from the Ministry of National Defense, Defense Acquisition Program Administration, and the Navy contributed significantly to the project award. The mutual trust accumulated through ongoing defense exchanges—such as bilateral talks between the navies of both countries, port calls by the Navy Cruise Training Squadron in Thailand, and joint exercises like Cobra Gold—has also served as a foundation for the advancement of this project.

An industry official commented, "Winning the Thai frigate contract will enhance the competitiveness and credibility of Korean naval vessels in the Southeast Asian market," and added, "It is likely to have a positive impact on expanding exports to neighboring countries in the future."

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