Hanwha Shipping, the U.S. subsidiary of South Korean shipbuilding giant Hanwha Ocean, has ordered one very large crude carrier (VLCC) from its parent company.
The move is aimed at supporting U.S. maritime policies by reflagging domestically built vessels as American ships.
According to Norwegian shipping journal TradeWinds on July 4, Hanwha Shipping signed a contract with Hanwha Ocean to build a 300,000 DWT VLCC equipped with a scrubber at Hanwha Ocean’s Okpo shipyard in Geoje, South Korea. The ship is expected to sail under the U.S. flag in compliance with the Merchant Marine Act, also known as the Jones Act, which requires U.S.-built and U.S.-flagged vessels for domestic LNG transport.
This brings Hanwha Shipping’s total orders with Hanwha Ocean to three vessels, including two LNG carriers ordered earlier this year. In February, the company signed a contract worth approximately $536 million for the construction of two LNG carriers, scheduled for delivery in September 2027.
Hanwha Shipping was established last year as an in-house shipping line to help Hanwha Ocean demonstrate and validate its eco-friendly technologies, such as ammonia-powered ships. The company is a 50-50 joint venture between Hanwha Ocean and Hanwha Futureproof, an investment vehicle of Hanwha Ocean, Hanwha Solutions, and Hanwha Aerospace.
Hanwha Ocean plans to leverage Hanwha Shipping as a platform to test and deploy advanced digital and green shipping technologies, ultimately offering top-tier eco-friendly ships to global customers. The company is also pursuing the reflagging of LNG carriers built in Korea to U.S. registry, allowing them to operate under the American flag even if originally constructed abroad.
Hanwha is also expanding its footprint in the U.S. shipbuilding market. After acquiring the Philadelphia Shipyard last year, Hanwha Ocean is positioning the yard as a hub for maintenance, repair, and overhaul (MRO) of U.S. Navy vessels as well as commercial shipbuilding. Hanwha Shipping’s initiatives align with broader efforts to revitalize the U.S. maritime and shipbuilding industries.
