Hanwha Ocean Acquires Stake in Singapore's Dynamac Holdings

Hanwha Ocean has acquired shares in Dynamac Holdings, a Singapore-based company specializing in the design and manufacturing of offshore marine plant topside structures. This acquisition is expected to enhance offshore plant production capabilities and secure a more advantageous position in global bids.

Hanwha Ocean's 24,000 TEU dual-fuel propulsion ultra-large container ship [Image source=Yonhap News]

According to Singaporean foreign media and the shipbuilding industry on the 12th, Hanwha Ocean purchased 21.5% of Dynamac shares from Singapore shipbuilder Keppel for approximately 91 billion KRW.

Dynamac, established in 1990, is a publicly listed company in Singapore. It operates two production facilities in Singapore and one in China. Last year, its revenue was about 385 million Singapore dollars (approximately 390 billion KRW).

Hanwha Aerospace, which also participated in this acquisition, secured a 2.4% stake, bringing the combined shareholding of the two companies to 23.9%.

Hanwha Ocean explained, "Through acquiring shares in Dynamac, which possesses manufacturing capabilities for key products such as Floating Production Storage and Offloading units (FPSO) and Floating Liquefied Natural Gas units (FLNG), we aim to effectively respond to the global market situation where demand for floating offshore plants is increasing."