On April 1, South Korean shipbuilder Hanwha Ocean announced that it has signed a contract with a European shipowner for the construction of two very large crude carriers (VLCCs) with a total value of about 378.4 billion won (about $258 million) and a single-vessel price of about $129 million.
Earlier in March this year, Clarkson announced a VLCC market price of about $125 million, Hanwha Ocean’s latest order for a VLCC cost more than the market price of $4 million.
Hanwha Ocean indicated that it is now steadily implementing its strategy to enhance profitability by undertaking high-value-added vessels through its order-selection strategy.
In mid-March, Hanwha Ocean took delivery of six 24,000TEU liquefied natural gas (LNG) dual-fuel ultra-large container ships from Evergreen Marine, a container shipping company in Taiwan Province, China, at a price of US$267.3 million each, setting a record high price for container ships of this class.
A Hanwha Ocean official said: “Our company will continue to implement its order selection strategy to maximize profits based on its leading application of advanced technology and environmental protection technology.”