Hanwha Ocean wins first orders from Yang Ming
Hanwha Ocean Secures $1.4 Billion LNG Vessel Deal
In a significant move for the maritime industry, South Korea’s Hanwha Ocean has secured a contract valued at KRW 1.93 trillion (approximately $1.4 billion) with Taiwan’s Yang Ming Marine Transport Corp. This agreement involves the construction of seven cutting-edge liquefied natural gas (LNG) dual-fuel containerships, set to be delivered by the first half of 2029. The new vessels will feature innovative technologies aimed at enhancing safety and efficiency in LNG storage and usage.
Innovative Vessel Features Set New Standards
The upcoming containerships will each have a capacity of 15,880 twenty-foot equivalent units (TEU), positioning them as significant assets in Yang Ming’s fleet. One of the standout features of these vessels is the implementation of the world’s first LNG fuel tanks designed for a pressure rating of 1.0 bar. This is a notable improvement over the existing 0.7-bar designs, allowing for safer and longer storage of vaporized gas. Such advancements in technology are critical as the maritime industry continues to seek ways to enhance safety and reduce environmental impact.
Additionally, the engines of these new vessels will be ammonia-ready, indicating a forward-thinking approach to future fuel options. The capability to utilize ammonia as a fuel source aligns with the industry’s shift toward more sustainable practices, addressing the growing need for environmentally friendly solutions in shipping. Kim Hee-cheul, CEO of Hanwha Ocean, expressed pride in the contract, stating that it reflects the company’s commitment to differentiated eco-friendly technologies and design capabilities. This partnership not only underscores Hanwha Ocean’s innovative spirit but also marks a crucial step in the evolution of shipping technology.
