Seoul: Hanwha Ocean Co. announced on Wednesday that it has successfully secured a significant order worth 1.93 trillion won (approximately US$1.47 billion) from Taiwan's YangMing Marine Transport Corp. The agreement entails the construction of seven liquefied natural gas (LNG) dual-fuel container ships.
According to Yonhap News Agency, these ships, each designed with a capacity of 15,880 twenty-foot equivalent units (TEUs), will be constructed at Hanwha's Okpo Shipyard located in Geoje, South Gyeongsang Province. The delivery of these vessels is scheduled for completion by the first half of 2029.
A notable feature of these ships is the inclusion of the world's first LNG fuel tanks with a pressure rating of 1.0 bar, an enhancement over the existing 0.7 bar design. This upgrade is expected to facilitate safer and more extended storage of vaporized natural gas.
This contract represents Hanwha Ocean's inaugural collaboration with YangMing and builds on a previous order signed in March with Evergreen Marine, another leading Taiwanese shipping company. This deal is anticipated to further bolster Hanwha Ocean's market position in Taiwan.
CEO Kim Hee-cheul expressed confidence in the company's technological advancements, stating, "This first contract with YangMing is a recognition of Hanwha Ocean's differentiated eco-friendly technology and design capabilities. We will further solidify our technological edge and continue to lead the global eco-friendly ship market."