Hanwha Ocean has won a contract to build seven liquefied natural gas carriers for a European shipowner in a deal valued at KRW 2.5891 trillion (about $1.76 billion). The company disclosed the contract on Dec. 19, it was signed on Dec. 18 and runs through June 30, 2029. The client was not identified.
Hanwha Ocean said the contract value represents about 24 % of its consolidated revenue in 2024.
The new order brings Hanwha Ocean’s total 2025 orders to 51 vessels worth about $9.83 billion, above its 2024 new order intake of $8.98 billion.
Hanwha Ocean is a South Korean shipbuilder and marine engineering firm incorporated as part of Hanwha Group. Its operations include design, construction and installation of commercial ships and offshore structures, with major facilities such as a shipyard in Geoje, South Gyeongsang Province. The company’s portfolio encompasses LNG carriers, very large crude carriers, container ships and other large commercial vessels, along with associated marine technology.