Hanwha Ocean Secures Order for 4 LNG Carriers Worth 1.24 Trillion KRW... Estimated Qatar Volume

Hanwha Ocean announced on the 2nd that it has signed a construction contract for four liquefied natural gas (LNG) carriers with shipowners in the Asia region. The order amount is 1.2391 trillion KRW. The contract period is until August 13, 2027.

Hanwha Ocean did not disclose the specific contracting parties, but considering the ship prices, it is estimated to be for the Qatar project volume.

With this, Hanwha Ocean has secured a total of 12 vessels in the second phase of the Qatar project. Including the first phase order in 2022, the total increases to 31 vessels.

Hanwha Ocean secured and delivered 26 out of 53 vessels in the Qatar project conducted from 2004 to 2007. At that time, it built LNG carriers of all sizes, including sixteen 210,000㎥ class vessels and three 260,000㎥ class vessels.

Qatar, the world's largest LNG producer, signed a contract in June 2020 with the domestic 'Big 3' shipbuilders?HD Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean?for over 100 LNG carrier construction slots in response to increased production from the North Field gas field.

Hanwha Ocean has the world's largest LNG carrier construction capacity, capable of building 22 vessels annually. According to the UK-based shipbuilding and shipping market analysis firm Clarkson Research, out of 761 LNG carriers operating worldwide, Hanwha Ocean has built 179. Next year, it plans to build 24 vessels, more than this year.

This year, Hanwha Ocean secured orders for a total of 16 vessels, including 12 LNG carriers, 2 ultra-large crude carriers, and 2 ammonia carriers. The total value is approximately 3.27 billion USD (4.42 trillion KRW).

This content was produced with the assistance of AI translation services.