Source Fact: Financial Supervisory Service DART / 2024-11-11
Disclosure Type: Single Sales/Supply Contract Execution
💡 3-Second Summary
Hanwha Ocean has executed a shipbuilding contract with an Oceanian shipowner worth approximately KRW 713.5 billion for the construction of two Liquefied Natural Gas Carriers (LNGCs), running from November 8, 2024, to December 15, 2027.
📊 1. [Key Disclosure Content & Major Figures Summary]
- Contract Name & Particulars: Construction order for two Liquefied Natural Gas Carriers (LNGCs).
- Contracting Counterparty & Region: Oceanian shipowner / Oceania region.
- Contract Value: KRW 713,500,000,000 (KRW 713.5B).
- Proportion to Recent Revenue: 9.6% against the latest fiscal year (2023 year-end consolidated financial statements) revenue of KRW 7,408,300,000,000.
- Contract Period: Commencement Date 2024-11-08 / Expiry Date 2027-12-15.
- Financial Baseline & Parameter Criteria:
- Recent revenue is based on 2023 year-end consolidated financial statements; both contract value and revenue are rounded to the nearest hundred million KRW.
- The total value was calculated applying the base exchange rate of 1 USD = 1,399.10 KRW as of the contract date on November 8, 2024. The final KRW-denominated volume may vary depending on actual foreign exchange movements during execution.
- Additional Note: The original disclosure does not specify advance payment structures, progress payment parameters, detailed vessel specifications, or underlying profit margins. The contract period and final settlement amount remain subject to change during the construction process.
📈 2. [Expert View: Significance for Investors]
This disclosure demonstrates that Hanwha Ocean has formalized a shipbuilding contract with an Oceanian maritime entity totaling KRW 713.5 billion. The contract value equals 9.6% of the company’s 2023 consolidated revenue, with the counterparty being a regional operator based in Oceania.
Investors should perceive the execution period of this contract as a defined duration spanning from November 8, 2024, through December 15, 2027, exactly as stated in the text. The disclosure does not specify or address specific profitability metrics, quarter-by-quarter cash inflows, or precise accounting treatment methodologies. Therefore, it is inappropriate for investors to definitively assume any certain financial impacts on overall cash flow stability, working capital liquidity, or short-term earnings. Investors should focus strictly on the defined contract clauses and the potential adjustments to the period and final settlement values over the course of the project.
📝 Editor’s Comment (by K-STOCK Editor)
This regulatory filing documents that Hanwha Ocean has secured a contractual agreement for two LNGCs equaling 9.6% of its annual revenue from an international shipping firm. The baseline calculations are anchored to the exchange rate of November 8, 2024 (1 USD = 1,399.10 KRW), indicating potential fluctuations in ultimate valuation driven by foreign exchange movements.
The core variable for readers to trace going forward is the operational potential for contract parameter revisions. As explicitly denoted in the reporting details, the contract period and final settlement figures are subject to subsequent updates during construction. Investors should track future quarterly and half-year reports (Q1~Q4, H1~H2) regarding outstanding order balances and subsequent amendment filings to examine how these contract numbers are adjusted or maintained based entirely on objective data.
📢 Disclaimers and Source Information
Source: This content has been newly structured and written based on official data submitted to the Financial Supervisory Service’s Electronic Disclosure System (DART).
Investment Risk Notice: This content is provided solely for informational and linguistic reference purposes. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific stocks. All investment decisions and financial responsibilities rest entirely with the investor.
Inquiries: For compliance-related inquiries or copyright requests, please contact ksb220805@gmail.com.
