'310 Billion Won per Ship' 2.2 Trillion Won Jackpot Looms... Hanwha Ocean Nears Taiwan Container Ship Order

Yang Ming Marine Approves Order for Seven 15,000 TEU-Class LNG Dual-Fuel Ships
"Each Vessel Valued at 310 Billion Won"

Hanwha Ocean is on the verge of securing an order for ultra-large container ships worth a total of 2.2 trillion won from Yang Ming Marine Transport, a Taiwan-based shipping company.

On July 17 (local time), Yang Ming Marine Transport announced that its 404th board meeting had approved the order of seven 15,000 TEU-class liquefied natural gas (LNG) dual-fuel container ships. The price per vessel is approximately $225 million (about 310 billion won), and delivery is expected between 2028 and 2029. This investment is interpreted as part of the company’s fleet transition strategy to reduce carbon emissions. A representative from Yang Ming Marine Transport stated, "Together with the five LNG dual-fuel ships previously ordered, we will secure stable operations on major routes," adding, "We expect to reduce greenhouse gas emissions by about 20%."

A red sun is rising over a liquefied natural gas (LNG) carrier under construction at the Hanwha Ocean Okpo Shipyard yard dock in Geoje, Gyeongnam. Photo by Kang Jinhyung

Hanwha Ocean is being discussed in the industry as a strong candidate to win this order. However, the company stated, "No contract has been signed or finalized yet."

In March, Yang Ming Marine Transport announced a fleet expansion plan, signaling the order of a total of 13 LNG dual-fuel container ships, including seven 15,000 TEU-class vessels and six 8,000 TEU-class vessels. At the time, in addition to Korea's "Big Three" shipbuilders (HD Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean), Japan’s Imabari Shipbuilding and Taiwan’s CSBC were also mentioned as potential candidates.

Hanwha Ocean continues to deliver strong results. In the first quarter of 2025, consolidated sales reached 3.1431 trillion won and operating profit was 258.6 billion won, representing increases of 38% and 389%, respectively, compared to the same period last year. This performance is attributed to increased orders and sales of high value-added vessels such as LNG carriers. Securities firms’ consensus for second-quarter results is similar, with projected sales of 3.3164 trillion won and operating profit of 280.3 billion won.