Hanwha Ocean Co. said it has secured a 353.6 billion‑won (US$254 million) contract to supply two very large crude carriers (VLCCs) to a shipowner based in the Oceania region, according to the company's release.
According to the company’s regulatory filing, the vessels will include Hanwha Ocean’s proprietary fuel‑saving system, designed to enhance energy efficiency and reduce carbon emissions in line with tightening environmental regulations.
British maritime research firm Clarkson Research estimated that Hanwha Ocean has delivered 198 of the 1,015 VLCCs currently in operation globally, representing a 19.5 percent share of the global fleet.
The company said that with the latest contract, it has secured orders for a total of 10 VLCCs so far this year, the most among global shipbuilders.
Hanwha Ocean Co., Ltd. is a publicly listed South Korean shipbuilding and offshore engineering company headquartered in Geoje‑si. Formerly known as Daewoo Shipbuilding & Marine Engineering until acquisition and rebranding by Hanwha Group in 2023, it is among South Korea’s "Big Three" shipbuilders. Hanwha Ocean specialises in VLCCs, LNG carriers, offshore platforms, naval vessels and commercial ships. It is majority‑owned by Hanwha Aerospace and the National Pension Service, with several thousand employees operating worldwide.