Hanwha Ocean wins $51.2 mn deal for two LNG carriers

Hanwha Ocean Co., South Korea’s third-largest shipbuilder, secured a new contract to build two LNG carriers, making it the domestic shipyard with the highest order volume this year.

Hanwha Ocean said on Monday it won an order for two LNG carriers worth 713.5 billion won ($51.2 million) from Maran Gas Maritime Inc., a subsidiary of Greece’s largest shipping group Angelicoussis.

The newly ordered LNG carriers, with a capacity of 174,000 cubic meters, feature ME-GI natural gas engines and a full re-liquefaction system (FRS), enhancing fuel efficiency and reducing emissions compared to conventional LNG carriers.

The vessels will also incorporate Hanwha Ocean’s eco-friendly technologies, including its Air Lubrication System (ALS) and Shaft Generator Motor System (SGM).

The carriers will be constructed at Hanwha Ocean’s Geoje shipyard in South Korea and are scheduled for delivery to the owner by 2027.

The latest contract includes an option for two additional vessels, raising potential future orders. With this contract, Hanwha Ocean has secured 39 vessels worth $7.87 billion this year, marking the highest order volume among domestic shipyards.

Hanwha Ocean’s orders include 19 LNG carriers and floating storage regasification units (FSRU), seven very large crude carriers, and six container ships, reflecting a strategy focused on high-value products.

Write to Hyung-Kyu Kim at khk@hankyung.com