Hanwha Ocean announced  that it has secured orders for 26 vessels in the first half of this year, with a total value of approximately $5.07 billion. This amount surpasses the total order value for last year within just six months.

The orders include 16 liquefied natural gas carriers, two very large ammonia carriers , one very large LPG carrier , and seven very large crude carriers.

The most notable orders are for LNG carriers, a sector in which Hanwha Ocean has excelled, having delivered more LNG carriers than any other shipyard globally. As of August this year, according to Clarkson Research, Hanwha Ocean-built vessels account for 180 out of the 707 LNG carriers in global fleets, giving the company a 25 percent share of the global market. This achievement is attributed to Hanwha Ocean’s advanced eco-friendly shipbuilding technology.

Hanwha Ocean plans to increase its annual LNG carrier production capacity from 22 to 24 vessels by next year. Since the second half of last year, the company’s first dock at its Geoje shipyard has been capable of constructing four LNG carriers simultaneously.

Hanwha Ocean is also accelerating its efforts to develop zero-carbon ship technologies. In collaboration with Hanwha Power Systems, the company has developed a ship model powered by a gas turbine generator running on 100 percent ammonia fuel. At Gastech 2023 last year, Hanwha Ocean received the world’s first approval in principle for a zero-carbon LNG carrier concept from the American Bureau of Shipping (ABS).

To meet environmental regulations of the International Maritime Organization (IMO), Hanwha Ocean has developed several advanced technologies. These include a smart ship system that monitors the carbon intensity index (CII) of vessels by measuring CO2 emissions during operation, a shaft generator motor system that connects a motor to the ship’s engine shaft to generate electricity from its rotational energy, and an air lubrication system that injects air beneath the hull to improve fuel efficiency.

Source: BusinessKorea