Hanwha Ocean Secures Orders for 5 Vessels Worth 1.3 Trillion Won

Hanwha Ocean Co. has obtained orders totaling 1.3 trillion won (approximately $900 million) for five vessels, including two LNG carriers and three VLCCs. The LNG carriers are to be delivered to an undisclosed African shipper by May 2029, while the VLCCs are scheduled for delivery to an Oceanian shipping company by June 2029. Demand for LNG carriers is anticipated to increase due to new terminal developments in the U.S. and ongoing shipping cost rises from Middle East tensions.

Published Mar 25, 2026

Hanwha Ocean Co. has secured two orders worth 1.3 trillion won ($900 million) for five vessels: two LNG carriers and three VLCCs. The LNG carriers are to be delivered to an undisclosed shipper in Africa by May 2029.

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The three VLCCs will be delivered to an Oceanian shipping company by June 2029. The company anticipates rising demand for LNG carriers due to new LNG terminal projects in the U.S. and increasing advance orders for VLCCs driven by higher shipping costs from Middle East tensions. This deal brings Hanwha Ocean's total orders to 11 vessels worth $2.32 billion this year.