Hanwha Ocean signed a ₩527.9bn EPC contract on 3 August to build a 490MW LNG district energy plant at Yeosu, running to August 2029.
Hanwha Ocean reported second-quarter revenue of ₩5,443.2bn against ₩3,209.9bn in the first quarter, a sequential increase of 69.6%.
Hanwha acquired the Philly Shipyard in 2024 for about $100m and the group has committed roughly $5bn to transforming it.
Daewoo Shipbuilding & Marine Engineering, renamed Hanwha Ocean after 2023 acquisition, reported first-half 2026 operating income of ₩893 billion, nearly triple the year-earlier result, driven by delivery acceleration and
Hanwha Ocean (KRX:042660) won a ₩1.55 trillion contract from Taiwan's Yang Ming Marine Transportation on 3 September to build six liquefied natural gas containership vessels, the company's second major followup order from the same customer after a July 2025 contract for seven ships.
Hanwha Ocean has contracted with Taiwan's Yang Ming Marine Transportation to build six LNG-fuelled container ships for ₩1.55 trillion, according to Dailian on Thursday.
Arctic LNG 2, the Russian liquefied natural gas producer, has filed an international arbitration claim against Hanwha Ocean for $1 billion in damages, according to Dailian on Thursday.
Hanwha Ocean (042660) said Monday it signed a contract to build three VLGCs (Very Large Gas Carriers) for a shipowner it identifies only by region, "Oceania," worth KRW 477.8bn (about $347m).
| Period | 042660 | KOSPI | Difference |
|---|---|---|---|
| 1 week | -1.9% | -1.5% | -0.4% |
| 1 month | -0.8% | +5.2% | -6.0% |
| 3 months | -24.6% | -22.6% | -2.0% |
| 6 months | -20.0% | +31.3% | -51.3% |
| Year to date | -23.6% | +58.7% | -82.3% |
| 1 year | -27.0% | +108.9% | -135.9% |
Closed at 16% of the way from its 52-week low (₩74,600) to its 52-week high (₩149,900).
Hanwha Ocean will build six container ships for Taiwan's Yang Ming Marine Transport. The contract is worth 1,552.7 billion won, about $1.13 billion at the contract-date rate. That equals 12.1% of Hanwha Ocean's FY2025 revenue. Korean rules treat that size as material for a large corporation. Work runs from September 2026 to September 2029. The ships will be delivered in Asia. Hanwha Ocean holds a down payment on signing. It collects the rest as construction progresses. The filing does not break out per-hull pricing or margin. It also gives no delivery schedule for each ship. The company says the final settlement amount can still change.
Hanwha Ocean signed a contract to build three VLGCs (Very Large Gas Carriers) for a shipowner it identifies only by region, "Oceania." The contract is worth ₩477.8bn (about USD 347m at the August 31, 2026 rate of ₩1,376.50/$1), equal to 3.7% of FY2025 consolidated revenue of ₩12.78tn, a ratio the filing states directly. Work runs from August 31, 2026 to a scheduled completion of December 6, 2030 — a four-year-plus build typical of large gas-carrier orders — and the filing confirms an advance/down payment is included, with billing tied to construction progress. The filing states both the contract value and the final settlement amount may still change as the build proceeds.
Hanwha Ocean is the shipbuilder formerly known as Daewoo Shipbuilding & Marine Engineering, bought by the Hanwha Group in 2023 after two decades under state-controlled creditor ownership and repeated rescues. Its yard at Geoje builds LNG carriers, container ships, tankers and offshore production platforms, and it is one of only two Korean yards that build submarines and surface combatants for the navy. That defence capability is what made it worth buying: Hanwha has used it to pursue United States Navy maintenance work, becoming the first Korean yard to win such a contract, and it acquired the Philly Shipyard in Philadelphia to gain a foothold under American shipbuilding rules. Its main rivals are HD Korea Shipbuilding and Samsung Heavy Industries at home and Chinese state yards abroad. For a US reader it is a turnaround: a long-troubled yard now owned by a defence conglomerate with explicit American ambitions.
| Sector | Shipbuilding | Employees | |
| Market | KOSPI | Founded | |
| Korean name | 한화오션 | Head office |
| Symbol | Last Price |
|---|---|
| 329180HD HYUNDAI HEAVY INDUSTRIES CO.,LTD. | ₩436,500 +0.3% |
| 009540HD Korea Shipbuilding & Offshore Engineering Co., Ltd. | ₩348,500 +1.3% |
| 010140Samsung Heavy Industries Co., Ltd. | ₩21,400 -1.2% |
| 443060HD Hyundai Marine Solution Co., Ltd. | ₩210,500 +2.4% |
| 439260Daehan Shipbuilding Co., Ltd. | ₩46,950 +0.8% |
| 075580Sejin Heavy Industries Co., Ltd. | ₩10,280 +0.9% |
| 460930Hyundai Hyms Co., Ltd. | ₩13,260 +0.8% |