Hanwha Ocean's shipyard in Geoje, South Gyeongsang Province (Yonhap)
Hanwha Ocean's shipyard in Geoje, South Gyeongsang Province (Yonhap)

Hanwha Ocean said Thursday it secured $10.05 billion in ship orders in 2025, surpassing the $10 billion mark for the first time since 2022.

The shipbuilder said it won contracts for 52 vessels during the year, including 20 very large crude carriers (VLCCs), 17 container ships, 13 liquefied natural gas carriers, one icebreaking vessel and one offshore plant.

Hanwha Ocean’s performance reflects its strategy of selectively targeting high-value-added vessels, as well as favorable external conditions. Moves by the second Trump administration to curb China’s shipbuilding industry and impose sanctions on Venezuela’s shadow fleet have tightened global vessel supply, supporting order activity.

Industry watchers expect demand for the segment to remain firm as the replacement cycle for aging tankers accelerates. Of the 908 VLCCs currently in operation worldwide, 367 — just over 40 percent — are more than 15 years old, according to British maritime consultancy Clarkson Research.

Hanwha Ocean added that it secured its first order of 2026, winning a contract from a Middle Eastern shipowner for three VLCCs worth 572.2 billion won ($388.4 million).

“Based on our accumulated design and construction experience and technological capabilities in VLCCs, we have earned continued trust from major global shipowners,” a company official said. “We will continue our selective order-taking strategy focused on high-value-added vessels, while responding flexibly to market conditions.”


andreahaneu@heraldcorp.com