Hanwha Ocean secures second US$252M LNG carrier order from affiliate in a month

South Korean shipbuilder Hanwha Ocean has secured another order for the construction of an LNG carrier from an affiliated company.

On 1 October 2025, the company announced a single-vessel contract valued at approximately US$252M, with delivery scheduled by the second quarter of 2028. The buyer was identified as a North American shipowner affiliated with Hanwha Ocean.

This marks the second such order in a month, following a similar LNG carrier contract from a Hanwha-affiliated North American company. Shipbroking sources later noted that Hanwha Shipping, the group’s shipowning subsidiary, was behind the deal.

Hanwha has been actively expanding its LNG carrier portfolio in recent months. Since July, Hanwha Shipping has ordered two LNG carriers from US-based Hanwha Philly Shipyard, a deal hailed as a milestone in US–South Korea shipbuilding cooperation. The collaboration has since extended into the MR tanker segment. These moves followed Hanwha’s US$100M acquisition of Philly Shipyard in December 2024.

Looking ahead, Hanwha Group has unveiled a US$5Bn infrastructure investment plan for Hanwha Philly Shipyard, part of South Korea’s wider US$150Bn investment initiative aimed at strengthening US shipbuilding capabilities.

Hanwha Ocean has also secured LNG carrier contracts from major global players this year, including a recent order from GasLog, led by Peter Livanos.

Focus on naval expansion

In addition to its growing LNG and commercial shipping business, Hanwha Ocean is advancing in naval ship design.

The shipbuilder recently signed a memorandum of understanding (MoU) with POSCO, South Korea’s leading steelmaker, to jointly develop next-generation ultra-high-strength steel for naval vessels.

According to Hanwha Ocean, this partnership marks the start of “full-scale preparations” to enter the global advanced naval ship market. “We will position ourselves as a leading total naval solution provider,” a company representative said.