Hanwha Ocean secures deal worth $730 million to build four ships for HMM
Published: 28 Nov. 2025, 16:22
Updated: 28 Nov. 2025, 20:40
![Hanwha Group Vice Chairman Kim Dong-kwan, far right, delivers a welcome address at a ship-naming ceremony at Hanwha Philly Shipyard in Philadelphia on Aug. 26. President Lee Jae Myung, Pennsylvania Gov. Josh Shapiro and other officials were also in attendance. [HANWHA]](https://koreajoongangdaily.joins.com/data/photo/2025/11/28/6b0097f1-fefd-4b57-bcb1-e92e402902db.jpg)
Hanwha Group Vice Chairman Kim Dong-kwan, far right, delivers a welcome address at a ship-naming ceremony at Hanwha Philly Shipyard in Philadelphia on Aug. 26. President Lee Jae Myung, Pennsylvania Gov. Josh Shapiro and other officials were also in attendance. [HANWHA]
Hanwha Ocean said on Friday that it has secured a deal worth 1.07 trillion won ($727.8 million) to build four container ships for HMM, Korea's largest shipping company.
The ships are scheduled to be delivered to HMM by February 2029, according to Hanwha Ocean's regulatory filing.
The order is intended to support HMM's fleet expansion in line with its mid- to long-term strategy through 2030, the company said.
“By building environmentally friendly, high-value-added vessels, we expect to help [HMM] accelerate its transition to greener ships and strengthen the future competitiveness of Korea’s shipping and shipbuilding industries,” a Hanwha Ocean representative said.
Hanwha Ocean has secured deals to build a total of 41 vessels so far this year — including 17 large oil tankers, 17 container ships, six liquefied natural gas carriers and one icebreaking research vessel — amounting to roughly $7.7 billion.
In a separate statement made on the same day, the company commented on its recent loss in the bidding for Poland’s next-generation submarine project, saying it would “reflect on whether anything fell short” and “use the setback as motivation as it prepares for upcoming global naval defense export opportunities in markets including Canada and the Middle East.”
![Hanwha Philly Shipyard in Philadelphia [JOONGANG ILBO]](https://koreajoongangdaily.joins.com/data/photo/2025/11/28/1d0e44a9-2edc-4d92-92c7-3add54a98599.jpg)
Hanwha Philly Shipyard in Philadelphia [JOONGANG ILBO]
“Instead of being discouraged by past failures, we will devote ourselves to delivering results worthy of Korea’s status as a leading nation in K-defense maritime systems,” the company said.
Poland on Wednesday selected Sweden’s Saab as the final contractor for its 10 billion-zloty ($2.52-billion) next-generation Orka submarine program.
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KIM HYO-SEONG [[email protected]]
with the Korea JoongAng Daily
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