Hanwha Shipping Delivers First VLCC, Elandra K2

K2 is the first of three VLCCs being built using the group's shipbuilding technologies. The second vessel, Elandra Kunlun, had its keel laid in May and is scheduled for delivery in December 2026, while the third, Elandra Kilimanjaro, had its keel block placed on 24 Aug 2026 and is due in February 2027. The Elandra K2 holds ABS Fuel Ready Level 1C notations for ammonia, LNG and methanol, and incorporates a cyber resilience framework based on the first ABS approval in principle granted under the IACS UR E26 framework. Hanwha Shipping is also building four 174,000 cbm LNG carriers, compliant with all U.S. LNG terminals, with deliveries starting in 2027; the first keel block was placed in June. The company previously announced plans for 10 MR tankers with USA Philly Shipyard for the Jones Act fleet, starting in 2029, and is considering future ammonia, ethane and LCO2 carriers. Hanwha Group has separately signaled plans to expand Philly Shipyard and bid for Austal's U.S. shipbuilding operations.