Hanwha Ocean bags $127M order for LPG carrier

Hanwha Ocean, the world's third-largest shipbuilder by order backlog, said Wednesday it clinched a 176.4-billion-won ($127 million) order to build a liquefied petroleum gas (LPG) carrier for a shipper based in the Americas.

Hanwha Ocean will build the vessels at its shipyard in Geoje, South Gyeongsang, on the south coast for delivery to the undisclosed shipping company by the first quarter of 2027, the company said in a regulatory filing.

So far this year, Hanwha Ocean has bagged $3.39 billion worth of orders to build 12 liquefied natural gas carriers, two very large crude carriers, two ammonia carriers and one LPG carrier. It garnered orders worth $4.1 billion for the whole of 2023.

Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering, set sail as the shipbuilding arm of chemical-to-defense industry conglomerate Hanwha Group in May last year.

Yonhap