Hanwha Ocean Secures $504M Contract for LNG Carriers

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 . In 2024, Hanwha Ocean 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.