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3 clusters · 6 sources · 26 days · First seen · Last updated

Hanwha Ocean LNG vessel development and contracts

Overview

Hanwha Ocean has expanded its involvement in the LNG-fueled maritime sector through both new vessel construction contracts and collaborative design development.

In early September, the company secured a contract worth approximately 1.55 trillion KRW to build six 13,650 TEU LNG dual-fuel propulsion container ships for Taiwan’s Yang Ming Marine Transport Corp. These vessels, which utilize proprietary high-manganese steel Type-B LNG fuel tanks, are designed to be ‘ammonia-ready’ to meet future environmental regulations.

By mid-September, Hanwha Ocean entered a Memorandum of Understanding with the Korean Register to develop design concepts for 18,000-cbm LNG bunkering vessels. This partnership aims to support the growing demand for LNG fuel supply infrastructure by utilizing different cargo containment solutions, including both Type-B and Type-C tanks.

On September 28, the company secured an additional contract from an African shipowner for two LNG carriers valued at approximately 680 billion won ($500 million). This brings Hanwha Ocean’s total orders for September to roughly 2.89 trillion won ($2.1 billion).

In related technological developments, Hanwha Power received approval in principle from the American Bureau of Shipping (ABS) for a 22,000-cubic-meter LNG-ammonia bunkering vessel concept featuring hybrid-electric propulsion. However, Hanwha Ocean faces operational risks stemming from labor-management negotiations and partial strikes that have impacted construction equipment.

Entities

Hanwha Ocean · American Bureau of Shipping · Korean Register · Chuck F. M. Tsai · Hanwha Power

Timeline

  1. 1 day ago

    [BUSINESS] 2 sources
    Hanwha Ocean secures $500 million LNG carrier order

    Hanwha Ocean secured $500 million in new LNG carrier orders, totaling $2.1 billion for September, while Hanwha Power received ABS approval for a new LNG-ammonia bunkering vessel concept.

  2. 10 days ago

    [BUSINESS] 2 sources
    Hanwha Ocean and Korean Register to develop LNG bunkering vessels

    Korean Register and Hanwha Ocean will jointly develop two 18,000-cbm LNG bunkering vessel design concepts to support the growing demand for LNG fuel infrastructure.

  3. 27 days ago

    [BUSINESS] 2 sources
    Hanwha Ocean to build six LNG container ships for Yang Ming

    Hanwha Ocean secured a 1.55 trillion KRW contract to build six LNG dual-fuel container ships for Taiwan's Yang Ming Marine Transport Corp, following a previous order of seven vessels.

Sources

cyprusshippingnews.com · europesays.com · idomin.com · indiashippingnews.com · turbomachinerymag.com · zdnet.co.kr

This summary has been updated 1 time: see revision history