Hanwha Ocean has secured an order for seven large container ships worth approximately 2 trillion Korean won from Taiwan’s Yang Ming Marine.
On the 17th, Hanwha Ocean announced that it had signed a contract with Yang Ming Marine to build seven 15,880 TEU (1 TEU = 20-foot container)-class LNG dual-fuel propulsion container ships. The total contract value is $1.4 billion, equivalent to approximately 1.93 trillion Korean won. The vessels will be constructed at the Geoje shipyard and delivered sequentially by the first half of 2029.
This marks Hanwha Ocean’s second major contract with a Taiwanese company. In March, it also won a contract from Taiwan’s Evergreen Marine for six 24,000 TEU-class LNG dual-fuel propulsion eco-friendly ultra-large container ships.
Taiwan is the only country in the world to host two of the global top 10 shipping companies (Evergreen and Yang Ming Marine), with their combined market share ranking fifth worldwide. By partnering with both leading Taiwanese shipping firms, Hanwha Ocean has strengthened its position in Taiwan’s maritime market.
The newly ordered container ships are large vessels capable of transporting 15,880 twenty-foot containers simultaneously. Notably, they are equipped with LNG dual-fuel propulsion engines as standard and are designed as “Ammonia Ready” specifications, allowing future conversion to ammonia dual-fuel propulsion.
“Ammonia Ready” means the ships are not immediately using ammonia fuel but are designed for potential retrofitting into ammonia-fueled vessels in the future. The engines and fuel supply systems incorporate specifications and durability required for ammonia fuel compatibility in advance, preparing for future carbon neutrality regulations.
Hanwha Ocean’s core technologies are extensively applied to these vessels. They feature LNG fuel tanks capable of withstanding 1.0 bar (atmospheric pressure, where 1 bar equals the pressure exerted by approximately 10 tons of weight on 1 square meter), a world-first achievement. Conventional fuel tanks typically withstand around 0.7 bar, but increasing the pressure allows for longer and safer storage of LNG vaporized gas.
Source: The Chosun Daily