Hanwha Ocean Secures 680 Billion-Won Contract for Two LNG Carriers
Hanwha Ocean announced it won a 680 billion-won contract to build two LNG carriers for an unnamed African buyer, with delivery slated for November 2029.
In a recent regulatory filing, Hanwha Ocean Co. confirmed it has secured a 680 billion-won (approximately US$499.6 million) contract to construct two liquefied natural gas carriers for an undisclosed African client, with the ships scheduled for delivery by November 2029. The agreement brings the firm’s cumulative order value for 2026 to $7.71 billion across 41 vessels, comprising 18 very large crude carriers, eight LNG carriers and six container ships.
The new LNG carriers will bolster the company's portfolio in the growing LNG transport sector. Hanwha Ocean’s expanding order book highlights South Korea’s continued competitiveness in the international shipbuilding industry. The contract also reflects ongoing demand from African operators seeking new LNG transport capacity. The company did not disclose the buyer’s identity or further contract specifics.
Why it matters
The deal shows South Korea's shipbuilding sector gaining new international LNG contracts, boosting export revenue.
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