Hanwha Ocean building LNG carriers for its shipowning arm

South Korean shipbuilder Hanwha Ocean has signed contracts to build two LNG carriers for its affiliate Hanwha Shipping.

The Okpo-based yard formerly Daewoo Shipbuilding & Marine Engineering (DSME) is scheduled to deliver the vessels by the end of September 2027.

Hanwha Shipping was formally launched by Hanwha Ocean in April 2024 as a shipowning arm that will serve as a testbed and validation platform for new ship technologies.

Last September, Hanwha Ocean unveiled its next generation of ships at Gastech event in Houston including a zero-emission LNG carrier design called Ocean 1.

The vessel has been designed to feature an ammonia gas turbine-based electric propulsion system and advanced eco-friendly and digital solutions.

Details about Hanwha Shipping’s newbuilding pair, worth about $252m each, have not been revealed.