Hanwha Ocean reveals landmark LNG carrier order at US shipyard

^{Photo credit: Philly Shipyard}

South Korea’s Hanwha Ocean has unveiled a landmark order for a liquefied natural gas (LNG) carrier at a U.S. shipyard.

An affiliate of Hanwha Ocean ordered a liquefied natural gas vessel from Hanwha Philly Shipyard, a US-based yard recently acquired by Hanwha Ocean. Specifically, Hanwha Shipping, a U.S. subsidiary of Hanwha Ocean, ordered a liquefied natural gas (LNG) carrier from its affiliate, Hanwha Philly Shipyard.

Under the structure of this project, Hanwha Philly Shipyard, as the U.S.-based shipyard, signs the primary shipbuilding contract with Hanwha Shipping – a Hanwha Ocean affiliate and the project’s owner – and then executes the contract as part of a joint-build model with Hanwha Ocean.

Hanwha Ocean’s chief executive officer Kim Hee-cheul has announced the deal on Tuesday, mentioning that the contract specifies one LNG carrier and one option for an additional vessel.

In December 2024, Hanwha Ocean, together with Hanwha Systems, completed the acquisition of Philly Shipyard in the U.S., and launched Hanwha Philly Shipyard, establishing a foothold in the country’s naval ship market.

The order is expected to enhance shipbuilding cooperation between South Korea and the United States.