[Market Focus] Hanwha Ocean Rises 3% on First U.S. Navy Contract Win
Shares of Hanwha Ocean are on the rise after the company secured its first-ever contract for a U.S. Navy project.
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As of 9:48 a.m. on March 31, Hanwha Ocean was trading at 122,100 won, up 3,900 won (3.3%) from the previous trading day.
Hanwha Ocean's Subic Shipyard and Hanwha Defense USA will participate as subcontractors to the ship design company Birdon Marine US in the U.S. Navy's next-generation logistics support program. Hanwha will provide refueling, resupply, and rearmament capabilities for the logistics support vessels.
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