Hanwha Ocean wins $500 million order from Oceania for two LNG carriers

Hanwha Ocean Co. said Wednesday it has secured a 738.3 billion won ($498.8 million) order to build two liquefied natural gas (LNG) carriers for an Oceania-based shipper.

Hanwha Ocean's natural gas carrier [YONHAP]

Hanwha Ocean said Wednesday it has secured a 738.3 billion won ($502.5 million) order to build two liquefied natural gas (LNG) carriers for an Oceania-based shipper.

The vessels are scheduled to be delivered to the unidentified shipping company by June 2029, Hanwha Ocean said in a regulatory filing.

With the latest deal, Hanwha Ocean has secured orders for five vessels worth a combined $890 million so far this year.

Hanwha Ocean said it expects demand for LNG carriers to rise, driven by LNG terminal development projects in the United States and other countries.

The company added that it will respond flexibly to market volatility while maintaining its strategy of focusing on higher value-added large vessels.

Yonhap