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Hanwha Ocean wins 331.2 bln-won order for 2 ammonia carriers

An ammonia carrier built by Hanwha Ocean Co.

Posted on January 22, 2024

SEOUL, Jan. 22 (Yonhap) — Major South Korean shipbuilder Hanwha Ocean Co. said Monday it has clinched a 331.2 billion-won (US$247 million) order for two very large ammonia carriers (VLACs) from an Oceanian shipper.

The eco-friendly vessels will be constructed at Hanwha Ocean’s shipyard in Geoje on the south coast and delivered to the undisclosed shipping company by the second half of 2027, the shipbuilder said.

Hanwha Ocean said each VLAC can carry 93,000 cubic meters of ammonia, the largest of its kind in the world so far. It marks this year’s first contract won by the shipyard.

The shipbuilder has been focusing on building environmentally friendly vessels, including ships powered by ammonia, hydrogen and hydrogen fuel cells.

Over the past two months alone, Hanwha Ocean has obtained orders to construct seven VLACs.

Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering Co. (DSME), set sail as the shipbuilding arm of Hanwha Group in May last year after obtaining regulatory approval for its purchase of a 49.3 percent stake in DSME and managerial control.

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