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Hanwha Ocean becomes 2024's most-ordered Korean shipbuilder with $511.6 million deal

Published: 11 Nov. 2024, 18:08

A LNG-FSRU built by Hanwha Ocean [HANWHA OCEAN]

Hanwha Ocean said Monday it had secured a 713.5 billion won ($511.6 million) deal to build two liquefied natural gas carriers, contributing to the company's strong cumulative order value, the largest among Korean shipbuilders this year.

The 174,000-ton vessels will be built at Hanwha Ocean's shipyard in Geoje, South Gyeongsang, and delivered to Maran Gas Maritime, a gas shipping unit of Angelicoussis Shipping Group of Greece, by December 2027, according to the company.

The contract also includes options for two additional vessels, indicating potential follow-up orders, the company added.

So far this year, Hanwha Ocean has bagged $7.87 billion worth of orders to build a total of 39 vessels, far exceeding $3.5 billion for the whole of 2023.

This cumulative total marks the highest order value achieved by any Korean shipbuilder this year.

Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering, set sail as the shipbuilding arm of Hanwha Group last May.

Yonhap