Hanwha Ocean has secured an additional order for one liquefied natural gas (LNG) carrier worth 363.2 billion won from a European shipowner, the company said in a regulatory filing Tuesday. The contract is scheduled to be completed by June 15, 2029.
“This order comes from a shipowner that placed orders for seven LNG carriers last year,” a Hanwha Ocean official said. “The consecutive construction of vessels with identical specifications enhances efficiency in design, procurement, and production, which is expected to help secure stable profitability.”
Including the latest deal, Hanwha Ocean has won orders totaling 19 vessels worth approximately $3.44 billion so far this year. The orders comprise 10 very large crude carriers (VLCCs), five LNG carriers, three very large ammonia carriers (VLACs), and one icebreaking research vessel.
According to information disclosed by Hanwha Ocean, the owner of this additional vessel is the Norwegian company Knutsen OAS Shipping. In 2025, the owner placed an order with Hanwha Ocean for seven LNG carriers with a total contract value of approximately $1.75 billion, which are scheduled to be delivered in stages by the first half of 2029.
Data shows that Knutsen’s LNG carrier fleet currently consists of 50 vessels, including 37 in operation and 13 under construction. All 37 vessels in operation have long-term time charter agreements in place; Of the 13 newbuild orders, only one has yet to secure a charter agreement. Six of these vessels have been contracted to Qatar under 15-year charter agreements and are expected to be delivered in 2026, while the remaining seven are scheduled for delivery between 2028 and 2029.