Hanwha Ocean Wins Container Ship Order After 2 Years... Worth 1.7 Trillion KRW

Perspective view of the ammonia gas turbine-powered LNG carrier developed by Hanwha Ocean. Photo by Hanwha Ocean

Hanwha Ocean announced on the 10th that it has secured an order worth 1.6932 trillion KRW for six 15,000 TEU (1 TEU equals a 6.1m long container) class LNG (liquefied natural gas) dual-fuel large container ships from a European shipowner.

This marks the first container ship order in two years. Until now, Hanwha Ocean has pursued a selective order strategy focused on profitability. Recently, with rising shipping freight rates and increased market share among major shipping companies, orders for container ships have been increasing.

According to Clarkson Research, container ship prices have risen by more than 30% over the past two years. The vessels ordered this time will be built at Hanwha Ocean's Geoje shipyard and are scheduled to be delivered to the shipowner by the end of 2028.

This year, Hanwha Ocean has secured orders for 37 vessels, including 17 LNG carriers and LNG-FSRUs (Floating Storage Regasification Units), 7 VLCCs (Very Large Crude Carriers), 6 container ships, 2 VLACs (Very Large Ammonia Carriers), 1 VLGC (Very Large Gas Carrier), 1 offshore unit, and 3 special-purpose ships. The total order value amounts to 7.35 billion USD (approximately 9.9151 trillion KRW), more than double last year's order value of 3.52 billion USD.