Major South Korean shipbuilder Hanwha Ocean Co. said Friday it has won a 342 billion-won (US$256 million) order for two very large crude carriers (VLCCs) from an Oceanian shipper.
The VLCCs will be built at Hanwha Ocean’s shipyard in Geoje on the south coast and delivered to the undisclosed shipping company by the end of 2026, the shipbuilder said.
One vessel will be delivered in the first half of the year, and the other, in the latter half, it added.
It marks the first time in three years that Hanwha Ocean has clinched an order to construct a VLCC. It also represents the highest single contract in 16 years.
Hanwha Ocean said the eco-friendly vessels will be equipped with diverse fuel-saving devices developed by the shipyard.
A company official said Hanwha Ocean is anticipating additional orders from the shipping company since the deal includes an option for extra contracts.
The order comes after Hanwha Ocean obtained a $247 million order for two very large ammonia carriers from an Oceanian shipper in late January.
Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering Co. (DSME), set sail as the shipbuilding arm of Hanwha Group in May last year.