Hanwha Ocean Wins $500M Order for Two LNG Carriers from African Shipowner

Hanwha Ocean, a South Korean shipbuilder, has secured a massive $500 million order for two liquefied natural gas (LNG) carriers from an African shipowner. The order is valued at approximately 680 billion won and marks the company's latest win in a competitive market. According to the agreement, delivery of the vessels is expected by November 2029.

The contract is notable as it includes options for two additional vessels, which would take the total number of ships ordered from Hanwha Ocean this year to 43. The company has already secured contracts for 41 new vessels valued at $7.71 billion so far this year.

With the latest order, Zodiac Maritime, a UK-based shipping company controlled by Israeli shipping magnate Eyal Ofer, has made its first foray into the LNG carrier sector and deepened its partnership with Hanwha Ocean in the newbuilding sector. In May 2026, Zodiac Maritime placed an order with Hanwha Ocean for three Very Large Ammonia Carriers (VLACs), with options for two additional vessels.

However, Hanwha Ocean is facing a critical risk factor in the form of severe labor disputes and ongoing partial strikes. The company's union staged a seven-hour strike on September 14, and operations were halted for all four of Hanwha Ocean's core gantry cranes on September 18.