Operating Profit Reaches 258.6 Billion Won in Q1, Turning to Black Year-on-Year
Sales of Highly Profitable LNG Carriers Drive Growth
Currently Operating Five Docks... One More to Be Added by 2027
Hanwha Ocean will make a facility investment by installing one additional floating dock and introducing a new 6,500-ton-class ultra-large offshore crane. The company's performance in the first quarter of this year improved significantly compared to the same period last year.
On April 28, Hanwha Ocean announced through a public disclosure that it recorded consolidated sales of 3.1431 trillion won and operating profit of 258.6 billion won in the first quarter of 2025. Sales increased by 38% compared to the same period last year, and operating profit surged by 388% from 52.9 billion won in the first quarter of last year. Compared to the previous quarter (the fourth quarter of last year), sales decreased by 3% due to seasonal factors such as fewer working days, but operating profit increased by 53%, driven by a reduced proportion of low-priced container ships and increased sales of highly profitable LNG carriers. Hanwha Ocean is accelerating the expansion of its production facilities in line with its improved performance.
A ship is being constructed at the Hanwha Ocean floating dock in Geoje City, Gyeongnam. Hanwha Ocean
To enhance production capacity, Hanwha Ocean announced that it will introduce a new floating dock by the end of March 2027. The company currently operates a total of five docks, including two land-based docks and three floating docks. The newly introduced floating dock will be 480 meters long, 97 meters wide, and have a lifting capacity of 180,000 tons.
An ultra-large offshore crane will also be introduced. The 6,500-ton-class ultra-large offshore crane can directly lift and mount large blocks, simplifying the previously complex process that required two 3,600-ton-class offshore cranes to be operated in parallel. Hanwha Ocean explained that this will improve construction efficiency. This offshore crane is scheduled to be introduced and put into production processes by the end of November 2027.
Hanwha Ocean invested 600 billion won in this facility expansion. Through this, the company aims to reduce dependence on externally leased facilities and increase both ship production volume and construction efficiency. In line with expanded production capacity, new jobs are expected to be created, and related infrastructure investments are also planned.
A Hanwha Ocean representative stated, "The investment in additional floating docks and ultra-large offshore cranes is not simply an expansion of production facilities, but part of a mid- to long-term strategy to lead the future marine industry."
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