May 05, 2024

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(Hanwha Ocean)

Hanwha Ocean, the world's third-largest shipbuilder by order backlog, said Tuesday it has bagged an order worth 1.24 trillion won ($919.6 million) to build four liquefied natural gas (LNG) carriers for an Asian shipper.

Hanwha Ocean said it will build the vessels at its shipyard in Geoje on the south coast, the company said in a regulatory filing.

The company didn't provide the name of the client and failed to disclose when the ships will be delivered.

So far this year, Hanwha Ocean has clinched $3.27 billion worth of orders to build 12 LNG carriers, two very large crude carriers and two ammonia carriers. It garnered orders worth $4.1 billion for the whole of 2023.

Hanwha Ocean said it will raise its yearly LNG construction capacity to 24 ships in 2025 from the current 22.

Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering, set sail as the shipbuilding arm of chemical-to-defense industry conglomerate Hanwha Group in May last year. (Yonhap)