South Korea’s Hanwha Ocean secured a 2 trillion won ($1.4 billion) order to build seven LNG dual-fuel container ships for Taiwan’s Yang Ming Marine Transport Corp., as the Taiwanese shipping firm continues its fleet modernization strategy.
The vessels, each with a capacity of 15,000 twenty-foot equivalent units, are scheduled for delivery between 2028 and 2029. The order represents one of the largest single contracts for Hanwha Ocean this year, reinforcing its position as a leading builder of environmentally compliant vessels.
Yang Ming’s board approved the purchase as part of its broader push to reduce greenhouse gas emissions while maintaining service on key East-West shipping routes. The company says the adoption of dual-fuel solutions will achieve a 20% reduction in greenhouse gas emissions compared to traditional fuel.
The deal follows Yang Ming’s previous orders for five LNG dual-fuel ships from HD Hyundai Heavy Industries for 2026 delivery, demonstrating the carrier’s systematic approach to fleet renewal. The company also recently ordered three methanol dual-fuel vessels as part of its sustainability drive.
For Hanwha Ocean, the contract adds to its robust order book of $31.43 billion as of March. The shipbuilder holds a 23.4% share of the global LNG carrier market and recently became the first company to deliver 200 LNG carriers.
The order reflects growing demand for cleaner shipping solutions as carriers face stricter environmental regulations and customer pressure to reduce carbon footprints. LNG dual-fuel technology allows vessels to switch between conventional marine fuel and liquefied natural gas, providing operational flexibility while cutting emissions.
