Hanwha Ocean Lands $1.06 Billion Order for Eco-Friendly Container Ships

Hanwha Ocean has secured a major contract to build six eco-friendly container ships for Taiwan's Yang Ming Marine Transport. The order is valued at approximately $1.06 billion and comes just one year after Hanwha Ocean won its first deal with the carrier.

The vessels will be built at Hanwha Ocean's Geoje shipyard and delivered in phases through 2029. They will feature dual-fuel engines running on liquefied natural gas, as well as a Type-B LNG fuel tank made from high-manganese steel developed by Hanwha Ocean itself.

Yang Ming Chairman Tsai Feng-ming said the contract demonstrates the companies' shared commitment to building a more competitive and sustainable fleet. Hanwha Ocean CEO Kim Hee-cheol added that the trust in the company's design and production technology had led to the follow-up order, and that he looks forward to further cooperation between the two firms.

The global container ship market is shifting towards eco-friendly fleets in response to tightening environmental regulations from the International Maritime Organization. Hanwha Ocean expects orders to focus on shipyards with proven green technologies and stable construction capabilities.