Hapag-Lloyd Considers Ordering Container Ships from Hanwha Ocean
Click to start listening
Synopsis
Hapag-Lloyd is looking into placing an order with Hanwha Ocean Co. for new container ships valued at over 1.7 trillion won ($1.2 billion). The deal may involve six LNG dual-fuel carriers, with expectations to finalize the agreement soon.
Key Takeaways
- Hapag-Lloyd may order six LNG dual-fuel container ships.
- The order is estimated to exceed 1.7 trillion won ($1.2 billion).
- The partnership dates back to a 2021 letter of intent.
- South Korean shipbuilders are among the top in global orders.
- Hanwha Ocean is a key player in the shipbuilding sector.
Seoul, Feb 9 (NationPress) The German shipping company Hapag-Lloyd is contemplating a collaboration with the South Korean shipbuilder Hanwha Ocean Co. for its upcoming series of container ship newbuilds, totaling over 1.7 trillion won ($1.2 billion), as reported by international news outlets.
According to TradeWinds, Hapag-Lloyd is evaluating the possibility of commissioning the construction of six liquefied natural gas (LNG) dual-fuel container vessels from Hanwha Ocean, as stated by Yonhap news agency.
In the year 2021, Hapag-Lloyd reportedly formalized a letter of intent with the Korean shipyard, formerly known as Daewoo Shipbuilding & Marine Engineering Co. (DSME), to build six container vessels of this type.
Industry experts anticipate that both firms will finalize the agreement by the end of this month.
Hanwha Ocean has indicated that no decisions have been made concerning this contract.
As a shipbuilding subsidiary of Hanwha Group, which operates across sectors from chemicals to aerospace, Hanwha Ocean has an established reputation.
Recently, three South Korean shipbuilders were recognized among the world’s top ten companies for new global orders in 2024, while the remaining seven positions were dominated by Chinese shipyards.
Samsung Heavy Industries secured the fifth position in terms of new orders, measured in compensated gross tons (CGTs), followed closely by Hanwha Ocean Co. and HD Hyundai Samho Heavy Industries Co. at sixth and seventh respectively, based on data from Clarkson Research Services in London.
Leading the list was New Times Shipbuilding of China, trailed by Hudong–Zhonghua Shipbuilding, New Yangzijiang, and Hengli Heavy Industry.
Ships from Dalian Shipbuilding, Waigaoqiao Shipbuilding, and Jiangnan Shipyard filled the eighth to tenth spots. However, in terms of order backlog, South Korean firms were at the forefront.
HD Hyundai Heavy Industries Co. held the top global position with 8.93 million CGTs as of January. Following that was Samsung Heavy Industries Co. with 8.72 million CGTs, while Hanwha Ocean ranked third with 8.49 million CGTs. HD Hyundai Samho secured the sixth position in this category.
