Recently, Neway Valve, China-based Neway Valve announced that it has signed a basic agreement for the supply of marine valves with Hanwha Ocean, one of South Korea’s “Big Three” shipbuilders.
Through this agreement, Hanwha Ocean plans to steadily procure high-quality valves to ensure that there will be no delays in responding to the surge in orders. With the shipbuilding industry entering a new boom, Hanwha Ocean has secured orders for more than three years.
In addition to Hanwha Ocean, Neway Valves is also responsible for supplying valves to HD Hyundai Heavy Industries and Samsung Heavy Industries.
Valves are an essential part of shipbuilding. From gate valves for opening and closing to ball valves and butterfly valves for controlling the flow of fluids, all types of valves are indispensable. The number of valves required varies depending on the size and type of the ship, but it is estimated that each ship needs to be equipped with hundreds to thousands of valves. Meritz Securities estimates that container ships and bulk carriers require an average of 300 million won worth of valves.
As of the first quarter of 2025, Hanwha Ocean’s order backlog reached 31.402 trillion won, an increase of 3.6932 trillion won or 13.5% from 27.347 trillion won in the same period last year. During the same period, the average operating rate of Hanwha Ocean’s Geoje Shipyard reached 100.2%.
Neway Valve is one of leading valve manufactures with the advanced valve plant in the world who can cover a complete solutions for industrial valves in order to satisfy the demand and requirements of our clients. Its product range is covering many valve types like: gate, globe, check, ball, butterfly, nuclear, subsea, control, safety valve & wellhead equipment. All the indicated valve range is being operated within different industries. The majority is being used in the oil & gas, offshore, chemical, power, nuclear, mining and air separation industry.
Neway Valve is able to supply industrial valves with a fully traceable and in-house quality control system. Neway’s proven stable quality, reliability and performance has been acknowledged by key EPC contractors and end-users and results in many approvals, contracts, frame work & investment agreements.