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Hanwha Ocean LNG vessel development and contracts

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2026-09-21 03:02 UTC → 2026-09-28 18:41 UTC · added ~~removed~~

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.

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