Hanwha Ocean wins $257 mn for two VLCCs

The amount of a contract which is signed by the S.Korean company and the Oceania-based shipowner is the largest since 2008

Hanwha Ocean wins 7 mn for two VLCCs
Sang Hoon Sung 1
2024-02-23 15:25:16 uphoon@hankyung.com
Shipping & Shipbuilding

South Korea's Hanwha Ocean Co. announced on Friday that it has won an order for two very large crude carriers (VLCCs) from a shipowner in Oceania, totaling 342 billion won ($257 million).

This is Hanwha Ocean's first order for VLCCs in three years since 2021.

The company said that the order amount is also the largest in 16 years since the global financial crisis in 2008.

The ships whose order was secured by Hanwha Ocean are eco-friendly vessels designed to minimize carbon emissions by incorporating various fuel reduction devices and optimized ship-shape designs.

These vessels will be built at the Geoje Shipyard and are scheduled to be delivered to the shipowner in the first and second halves of 2026.

This year to date, Hanwha Ocean secured orders for a total of four vessels, including two very-large crude carriers and two very-large ammonia carriers, amounting to $510 million.
Write to Sang Hoon Sung at uphoon@hankyung.com
#Hanwha Ocean #very-large crude carriers #VLCCs #very-large ammonia carriers

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