Hanwha Ocean lands 394.3 billion-won VLCC order

South Korean shipbuilder Hanwha Ocean Co. announced Wednesday that it has secured a 394.3 billion-won (US$264.7 million) contract to build two very large crude carriers (VLCCs) for a North American client.

According to a regulatory filing, the vessels are scheduled for delivery by March 2030. The contract adds to Hanwha Ocean's growing order book, bringing the company's total orders this year to US$4.61 billion for 27 vessels.

That order tally includes 17 VLCCs, six liquefied natural gas (LNG) carriers, three very large ammonia carriers (VLACs) and one wind turbine installation vessel (WTIV), as stated in the company's filing.

The announcement was carried by Yonhap News Agency, which cited the company's regulatory disclosure. No further details about the client or the specific terms of the contract were provided in the report.