Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Hanwha Ocean has disclosed a correction extending the completion date of a contract for one wind turbine installation vessel (WTIV) with a European shipowner from May 31, 2025, to December 31, 2025.
📊 [Key Disclosure Details & Financial Highlights]
- Correction Classification: Corrected Filing (Report)
- Correction Filing Date: January 13, 2025
- Original Disclosure Document & Date: Single Sales or Supply Contract (December 11, 2023)
- Reason for Correction: Change in contract completion date
- Corrected Items:
- Contract Period (End Date – Before Correction): May 31, 2025
- Contract Period (End Date – After Correction): December 31, 2025
- Basic Contract Details:
- Contract Classification: Construction Order
- Contract Name: 1 Wind Turbine Installation Vessel (WTIV)
- Contract Value: KRW 382,900,000,000 (approx. KRW 382.9B / USD 324.4M based on exchange rate 1 USD = KRW 1,180.30 as of Dec 2, 2021)
- Recent Annual Revenue: KRW 7,030,200,000,000 (approx. KRW 7.03T, based on FY2020 consolidated financials)
- Contract Value to Revenue Ratio: 5.4%
- Counterparty: European Shipowner (Relationship: N/A)
- Sales / Supply Region: Europe
- Contract Period: December 2, 2021 – December 31, 2025
- Key Payment Terms: Advance payment included (1st–2nd installments: 5% each; 3rd–5th: 10% each; 6th final installment on delivery: 60%)
- Contract Date: December 2, 2021
- Other Important Notes:
- The amended end date is conditional upon meeting terms agreed with the shipowner and may change further if these conditions are not met.
- The contract period and final settlement amount remain subject to potential changes during construction.
- Related Disclosures: December 3, 2021, and December 11, 2023 (Single Sales or Supply Contract)
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Potential Further Changes to Completion Date and Condition Fulfillment
This correction disclosure extends the end date for the wind turbine installation vessel contract to December 31, 2025, subject to agreed conditions with the shipowner. As the filing notes that the completion date may be adjusted further if agreed conditions are not met, monitoring whether construction proceeds within the extended timeframe and tracking potential subsequent correction disclosures regarding the contract period is essential for understanding the progress of the original order terms. Related details can be verified in future correction filings and the ‘Major Sales and Supply Contracts’ section of upcoming Quarterly, Half-Yearly, and Annual Reports.
📢 Disclaimer & Fact Source
Source: This content was structured and newly written based on officially submitted data from the Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System (DART).
Investment Disclaimer: This material is provided for informational and linguistic reference purposes only. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific stocks. All investment decisions and financial responsibilities rest solely with the investor.
Contact: For regulatory compliance inquiries or copyright concerns, please contact ksb220805@gmail.com.
