[K-Tech] Hanwha Ocean to secure $254 million order for very large crude oil carriers

A Very Large Crude Carrier VLCC built by Hanwha Ocean Courtesy of Hanwha Ocean — A Very Large Crude Carrier (VLCC) built by Hanwha Ocean / Courtesy of Hanwha Ocean

SEOUL, July 29 (AJP) - Hanwha Ocean has secured a 353.6 billion won (approximately $254 million) order to build two Very Large Crude Carriers (VLCCs) for a shipowner based in the Oceania region, the company announced in a regulatory filing on Tuesday.

The vessels will feature Hanwha Ocean’s proprietary fuel-saving technology designed to minimize carbon emissions, highlighting the company’s focus on eco-friendly shipbuilding solutions.

With this latest deal, Hanwha Ocean’s cumulative order book for 2025 now totals 17 vessels. This includes earlier contracts for two LNG carriers, seven VLCCs, and six ultra-large container ships, amounting to approximately $3.07 billion (about 4.2 trillion won).

According to Clarkson Research from the UK, Hanwha Ocean has built 198 of the 1,015 VLCCs currently in global operation, representing a market-leading 19.5 percent share. As of 2025, the company also holds the top spot for new VLCC orders, with 10 vessels secured year-to-date.

Lim Jaeho ajupresswogh@ajupress.com