Hanwha Ocean said on the 21st it won an order from a shipowner in Oceania for two LNG (liquefied natural gas) carriers. The $738.3 billion won contract calls for delivery by June 2029.

As of January this year, Hanwha Ocean has won orders for a total of five ships—three very large crude carriers (VLCCs) and two LNG carriers—worth about $890 million (about 1.3175 trillion won).

Hanwha Ocean said demand to replace aging ships continues due to tighter environmental regulations and demand for fuel efficiency, and demand for new LNG carriers will also increase because of U.S. LNG terminal development plans scheduled for after 2028.

A Hanwha Ocean official said, “Compared with winning one VLCC order in January last year, the order flow has improved significantly from the start of the year, showing a smooth start,” and added, “We plan to respond flexibly to market volatility while maintaining a selective order strategy focused on high value–added large vessels.”
Source: ChosunBiz