By Diplomacy Journal Lee Kap-soo Hanwha Ocean, the shipbuilding affiliate of Korea’s Hanwha Group, has won a 757.7 billion-won (US$515 million) order to construct four very large crude carriers (VLCCs) for an Africa-based shipping company, it announced on Nov. 24. According to the regulatory filing, the vessels are scheduled for delivery by November 2028. The name of the client has not been disclosed. With this latest contract, Hanwha Ocean’s order intake for the year has reached US$6.97 billion. The company secured US$8.98 billion in total orders in 2024, demonstrating continued momentum in l
By Diplomacy Journal Lee Kap-soo Hanwha Ocean signed a Master Ship Repair Agreement (MSRA) with the U.S. Navy, marking an important milestone in consolidating the company's reputation in the global defense market through enhanced cooperation with the U.S. naval shipbuilding sector. The MSRA, which represents Hanwha Ocean’s shipbuilding and maintenance, repair, and overhaul (MRO) capabilities in the global market, is granted by the U.S. Navy to companies that fulfill stringent quality standards for ship maintenance services. Hanwha Ocean underwent a rigorous evaluation process in April to secur