Hanwha Ocean stock wins 356.8 billion won VLCC order

Company: Hanwha Ocean
ISIN: KR7042660001
Contract: Two very large crude carriers
Contract value: 356.8 billion won
Customer: Bermuda-based shipowner
Contract period: October 29, 2026 to September 30, 2030

Published on 11/06/2026 at 01:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Hanwha Ocean stock is in focus after the company secured a new tanker order from a Bermuda-based owner. Delivery is planned by late 2030.

Tanker order extends Hanwha Ocean backlog

Hanwha Ocean signed a construction contract with a Bermuda-based shipowner.
The staged payment structure supports revenue recognition as construction progresses.
The order adds commercial vessel volume through the end of the decade.

Hanwha Ocean, KR7042660001, Illustration mit AI erstellt.

Hanwha Ocean signed a contract on October 29, 2026, to build two very large crude carriers for a Bermuda-based shipowner. Financial News reported the agreement on October 30, citing a company filing.

The contract runs through September 30, 2030. Payments include a deposit and an advance, with further installments tied to construction progress, giving Hanwha Ocean a staged path to revenue recognition.

Order adds commercial vessel volume

The contract value equals 2.8 percent of Hanwha Ocean's consolidated revenue in 2025, according to Financial News. The final settlement amount and schedule may change during construction, so the order improves backlog visibility without fixing the ultimate cash proceeds.

The agreement adds to Hanwha Ocean's commercial vessel business and extends activity at its Geoje shipyard. For investors, the main implication is additional shipbuilding volume through 2030 rather than an immediate earnings contribution.