Source Facts: Financial Supervisory Service Electronic Disclosure System (DART) / 2025-06-18
Disclosure Type: Signing of a Single Sales/Supply Contract (Amendment Disclosure)
💡 3-Second Summary
Hanwha Ocean has officially amended the contract expiration date for its KRW 525B contract to supply two LNG carriers for an Oceania-based shipowner, shifting the end date from December 31, 2025, to March 13, 2026.
📊 1. [Summary of Core Disclosure Content and Major Figures]
- Contract Name: 2 LNG Carriers
- Contract Category: Construction Order
- Contract Amount: KRW 525,000,000,000 (KRW 525B)
- Recent Sales: KRW 7,030,200,000,000 (KRW 7,030.2B, based on the consolidated financial statements at the end of 2020)
- Ratio to Sales: 7.5%
- Contract Counterparty: Shipowner in the Oceania region (No special relationship with the company)
- Sales and Supply Region: Oceania Region
- Amendments to Contract Period:
- Start Date: January 28, 2022 (Unchanged)
- End Date: (Before) December 31, 2025 $\rightarrow$ (After) March 13, 2026
- Major Contract Conditions: Contract deposit and advance payment exist; collection of payments will be made according to construction progress.
- Metric Valuation Standard: Converted into KRW based on the trading base rate of USD 1 = KRW 1,202.40 as of the initial contract date (January 28, 2022), rounded to the nearest hundred million KRW.
- Other Details: The initial filing was submitted on February 3, 2022. This amendment explicitly addresses the adjustment of the contract expiration date. The contract period and final settlement amount are subject to modification during the construction process.
📈 2. [Expert Perspective: What This Disclosure Means for Investors]
- Extension of Contract Duration: This filing is a factual amendment confirming that the contract end date for the two LNG carriers has been adjusted and extended by approximately 2.5 months. The quantitative data, such as the total contract value of KRW 525B, remain unchanged.
- Retention of Stated Conditions: The payment terms continue to specify “collection according to construction progress.” The official disclosure text does not state any specific financial statements impact, timing changes for revenue recognition, or exact profit margin variations resulting from this schedule adjustment.
- Investor Checkpoints: As indicated in the crucial matters for investment judgment, the final contract period and settlement totals remain subject to modification during the construction process. Since the official filing does not state the underlying causes prompting this schedule adjustment, investors should focus strictly on observing whether the updated duration undergoes subsequent adjustments or if further amendment disclosures are made.
📝 Editor’s Comment (by K-STOCK Editor)
This amended disclosure formally records that the contract duration for Hanwha Ocean’s contract to supply two LNG carriers to an Oceania-based shipowner has been modified to March 13, 2026. This schedule adjustment occurs approximately three years after the initial agreement was signed.
The primary checkpoint that market participants should examine next is whether the revised timeline is maintained without further adjustments. Since the filing notes that the contract duration and final settlement totals can change during the construction process, checking whether the updated deadline of March 13, 2026, is met without subsequent revisions remains essential.
The original disclosure provides no evaluation regarding the underlying factors causing the timeline adjustment or specific financial margin impacts for the company. Therefore, avoiding subjective assumptions or interpretations, market participants must rely strictly on tracking the factual status of the finalized figures and contract duration as disclosed in official updates.
📢 Disclaimer & Source Information
Source: This content was structured and newly written based on the official data submitted to the Financial Supervisory Service Electronic Disclosure System (DART).
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