[Market Focus] Hanwha Ocean Rises on News of VLCC Order

Hanwha Ocean is showing strong performance in early trading following news of a very large crude carrier (VLCC) order.

As of 9:07 a.m. on December 2, shares of Hanwha Ocean were trading at 107,200 won on the Korea Exchange, up 2,200 won (2.10%) from the previous day.

On this day, Hanwha Ocean announced that it had signed a contract to supply two VLCCs worth 375.3 billion won to a shipowner in the Oceania region. This amount is equivalent to 3.5% of last year's consolidated sales of 10.776 trillion won.

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