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South Korean shipbuilder Hanwha Ocean wins $1.8 billion contract for 8 LNG vessels
From an undisclosed shipowner, Hanwha Ocean formerly Daewoo Shipbuilding and Marine Engineering, has received an order for constructing 8 LNG vessels.
Dr.G.R.Balakrishnan Mar 28 2024 Shipping News (Ship Building & Ship Yards)

South Korean shipbuilder Hanwha Ocean wins $1.8 billion contract for 8 LNG vessels

Under the KRW 2.4 trillion (approximately $1.8 billion) contract signed on March 24, 2024, the company will build eight LNG vessels scheduled for delivery until January 31, 2028.

Hanwha has not revealed the client’s name or the location where the vessel will be built, but did state that the company is a shipowner from the Oceania region.

Recently, Hanwha and BV jointly were to develop a 270,000 cubic meter (cbm) LNG carrier and has secured a $256 million deal to build four very large crude carriers (VLCCs), which is the highest price for vessels since the 2008 global financial crisis.

Earlier this month, following the acquisition of the marine engine company HSD Engine, the Korean shipbuilder also launched a new division, Hanwha Engine, to build eco-friendly fuel engines.