Hanwha Ocean has broken its container ship order drought, clinching a deal for six large liquefied natural gas (LNG) dual-fuel vessels from a European shipowner. The contract, valued at 1.7 trillion won ($1.27 billion), marks the South Korean shipbuilder’s first container ship order since January 2022.
The 15,000 TEU ships will be built at Hanwha’s Geoje plant, with delivery set for late 2028. This order aligns with the company’s strategy to focus on high-profit vessels amid stable work volumes.
The deal comes as container ship prices have jumped over 30% in two years, according to Clarkson Research. Hanwha Ocean has capitalized on this trend, securing $7.35 billion in orders for 37 ships this year, more than doubling its 2023 performance.
LNG dual-fuel technology is gaining traction for its environmental benefits, allowing vessels to operate on both LNG and traditional marine fuels, reducing emissions.
The order underscores Hanwha Ocean’s ability to navigate market shifts and target lucrative projects, solidifying its position in the competitive shipbuilding industry.
