Hanwha Ocean KR flag , the South Korean shipbuilder, announced plans to construct two LNG carriers, valued at approximately US$504 million, for its subsidiary, Hanwha Shipping LLC. The order, disclosed on 10 February, is expected for delivery in the second half of 2027. Hanwha Shipping LLC, established in April 2024, aims to leverage eco-friendly and digital ship technologies to enhance its shipowning activities. The company intends to verify the practicality and safety of new technologies through its operations, as noted in a 12 April filing by Hanwha Ocean KR flag . In 2024, Hanwha Ocean KR flag recorded its first profitable year since 2020, driven by increased demand for high-value vessels like LNG carriers. The group’s successful recovery reflects broader industry trends towards modernizing fleets with advanced technology. Currently, the global LNG carrier orderbook, as reported by Greece-based Xclusiv Shipbrokers, includes 341 vessels, indicating robust growth in this sector. Meanwhile, although the pace of new orders has slowed, prices for new vessels have corrected slightly, as noted by another Greek firm, Intermodal.