Hanwha Ocean Wins 2 Trillion Won in Orders Including Six Yang Ming LNG Dual-Fuel Container Ships
Key Takeaways
- •Hanwha Ocean secured a contract from Yang Ming Marine Transport for six 13,650-TEU LNG dual-fuel container ships valued at approximately 1.5527 trillion won.
- •The vessels will be built at the Geoje shipyard and delivered sequentially by the second half of 2029.
- •Together with a 477.8 billion won order for three very large gas carriers on the 1st, Hanwha Ocean's two-day order total reached about 2.0305 trillion won.
- •Yang Ming's contracted fleet with Hanwha Ocean now totals 13 ships, following an initial order of seven 15,880-TEU LNG dual-fuel container ships placed in September last year.
- •The new ships will use Hanwha Ocean's high-manganese steel Type-B LNG fuel tanks, which offer cost advantages over nickel alloy steel or aluminum while performing at minus 163 degrees Celsius.
Hanwha Ocean announced on the 3rd that it has secured an order from Yang Ming Marine Transport for six liquefied natural gas (LNG) dual-fuel container ships worth approximately 1.5527 trillion won. This follows an order won on the 1st for three very large gas carriers from a shipowner in Oceania, valued at 477.8 billion won, bringing the company's total orders over two days to 2.0305 trillion won. The back-to-back contracts underscore how shipbuilders with dual-fuel and eco-friendly vessel capabilities are capturing orders as liner companies and gas carriers renew their fleets.
The six 13,650-TEU class LNG dual-fuel container ships will be constructed at Hanwha Ocean's Geoje shipyard and delivered sequentially by the second half of 2029.
Yang Ming Marine Transport placed its first newbuild order with Hanwha Ocean in September last year, covering seven 15,880-TEU class LNG dual-fuel container ships. With the addition of six more vessels within a year, the two companies' contracted fleet has grown to a total of 13 ships. The repeat order within a single year reflects the working relationship established through the initial project.
The new vessels will feature a "high-manganese steel-based Type-B LNG fuel tank" independently developed by Hanwha Ocean. High-manganese steel offers greater price competitiveness than conventional nickel alloy steel or aluminum while maintaining toughness and strength in the cryogenic environment of minus 163 degrees Celsius. Hanwha Ocean plans to use the material to enhance the safety and cost-effectiveness of its LNG fuel tanks. Materials cost is a meaningful differentiator in LNG-fueled newbuilds, where fuel tank construction is a significant component of the overall build.
The ships will also incorporate the latest hull form optimization technology. Hanwha Ocean intends to design the vessels to improve fuel efficiency as well as operating and loading efficiency, reduce fuel and other operating expenses, and respond to tightening international environmental regulations. The reference to environmental rules aligns with the IMO's greenhouse-gas reduction strategy for international shipping, which is pushing operators toward LNG dual-fuel and other lower-carbon propulsion options as they renew fleets.
Kim Hee-cheul, CEO of Hanwha Ocean, said, "Trust in Hanwha Ocean's design and production technology and project execution capabilities, confirmed through the first project, has led to another large follow-up order in just one year," adding, "We will continue to enhance our differentiated eco-friendly technologies and quality competitiveness so that our cooperation with Yang Ming Marine Transport can develop into a long-term partnership."
Source: ChosunBiz, via Hellenic Shipping News
