Hanwha Ocean Enters into Construction Contract for Two VLCCs with North American Shipowner... Contract Amount 394.3 Billion Won

Hanwha Ocean, a shipbuilding company, signed a contract with a North American shipowner for the construction of two VLCCs. The contract amount of 394.3 billion won represents 3.1% of the company's recent revenue. Payments will be made in installments tied to project progress. The contract period spans from July 14, 2026, to March 31, 2030. The contract value was calculated using the exchange rate of 1,504.90 won per dollar on July 14, 2026, and may be adjusted during project execution. Financials for Hanwha Ocean's December 2025 fiscal year show total assets of 20.14 trillion won, liabilities of 13.97 trillion won, equity of 6.18 trillion won, revenue of 12.78 trillion won, operating income of 1.17 trillion won, and net income of 1.25 trillion won. The company, listed on KOSPI since February 2, 2001, saw its stock price rise 6.84% to 82,050 won on July 15, 2026.