Fact Source: Financial Supervisory Service DART
💡 Executive Summary
Hanwha Ocean secured a contract worth KRW 375.3B (3.5% of recent annual revenue) to construct two Very Large Crude Carriers (VLCC) for an Oceanian shipowner.
📊 [Key Disclosure Details & Financial Summary]
1. Contract Overview
- Contract Type: Construction Order
- Contract Name: 2 Very Large Crude Carriers (VLCC)
2. Financial Details & Scale
- Contract Amount: KRW 375,300,000,000 (KRW 375.3B / approx. USD 256.0M equivalent)
- Applied FX Rate: USD/KRW = 1,465.90 (Base rate on 2025-12-01, rounded at 100M KRW)
- Recent Revenue: KRW 10,776,000,000,000 (KRW 10.776T, FY2024 consolidated basis)
- Ratio to Revenue: 3.5%
- Contracting Party & Relationship: Oceanian Shipowner (No special relationship)
- Sales/Supply Region: Oceania Region
3. Contract Terms & Schedule
- Contract Period: 2025-12-01 ~ 2028-12-31
- Contract Date: 2025-12-01
- Key Terms: Down payment/advance payment included / Payment collected according to construction progress
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Monitoring Vessel Construction Progress and Revenue Recognition
This filing discloses that Hanwha Ocean entered into a KRW 375.3B contract with an Oceanian shipowner to build two VLCCs.
Verifying that payments are collected according to progress and that construction proceeds as scheduled over the contract period (December 1, 2025 – December 31, 2028) is important for evaluating whether revenue from this order is recognized as planned.
Progress regarding order backlog and construction status can be tracked through future official periodic filings, such as Quarterly, Semi-Annual, and Annual Reports.
📢 Disclaimer & Source Notice
Source: This content was newly structured and generated based on official filing data from the Financial Supervisory Service DART system.
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