Hanwha Ocean wins 3.4 trillion won in orders already, focusing on selective contracts for high value-added large vessels

According to a disclosure on the 25th reported by The Financial News, Hanwha Ocean has secured orders worth about 1.345 trillion won for a total of five vessels: two Liquefied Natural Gas carriers (LNG carriers) from a shipowner in Africa and three Very Large Crude Oil Carriers (VLCCs) from a shipowner in Oceania.
In the VLCC market, the global fleet is aging rapidly, making the gradual phaseout of older vessels inevitable. As a result, analysts note that demand for newbuilds is likely to remain structurally strong. Recently, freight rates for VLCCs have rebounded due to the closure of the Strait of Hormuz following US airstrikes on Iran, and this kind of geopolitical uncertainty is prompting shipowners to bring forward their investment decisions. Demand for LNG carriers is also expected to grow steadily over the medium to long term, as numerous Liquefied Natural Gas (LNG) terminal development projects are scheduled after 2028, particularly in the United States of America (US).
Hanwha Ocean plans to continue its strategy of selective ordering focused on high value-added large vessels in line with these market conditions, while responding flexibly to market volatility.
So far, Hanwha Ocean has won orders for a total of 11 vessels: six VLCCs, four LNG carriers, and one Wind Turbine Installation Vessel (WTIV), amounting to about 2.32 billion dollars, or roughly 3.46 trillion won.


ggg@fnnews.com Kang Gu-gwi Reporter