Source Facts: Financial Supervisory Service Electronic Disclosure System (DART) / 2024-03-18
Disclosure Type: Single Sales / Supply Contract
💡 3-Second Summary
Hanwha Ocean has amended the counterparty and sales/supply region for its two LNG carriers contract signed in April 2022, expanding it from “Oceania” to “Oceania and Asia,” while maintaining all other core contract terms including the contract value and duration.
📊 1. [Summary of Key Disclosure Content and Major Figures]
- Contract Category & Name: Construction Contract / Two (2) LNG Carriers
- Contract Amount: KRW 526,300,000,000 (Total value remains unchanged)
- Proportion to Recent Sales: 11.7% (Compared to consolidated annual sales of KRW 4,486,600,000,000 at the end of 2021)
- Counterparty (Amended): Oceanian and Asian Shipowners (Prior to amendment: Oceanian Shipowners)
- Sales & Supply Region (Amended): Oceania and Asia Region (Prior to amendment: Oceania Region)
- Contract Period: Start Date 2022-04-14 ~ End Date 2026-03-31 (End date remains unchanged)
- Initial Contract & Disclosure Date: 2022-04-14 (Initial disclosure filed on 2022-04-15)
- Other Investment Considerations:
- The contract value was calculated by applying the base trading exchange rate of 1 USD = 1,227.70 KRW as of the initial contract date (2022-04-14).
- The official filing explicitly notes that the contract period and the final settlement amount could be modified during the course of the construction process.
📈 2. [Expert View: Significance of This Disclosure for Investors]
This filing represents an administrative update to modify the identification data of a large-scale LNG carrier contract that Hanwha Ocean originally secured in April 2022. The amendment reason is strictly confined to the “change in contract counterparty and sales/supply region,” adding “Asia” to the existing designation, and does not alter core variables such as the total contract value (KRW 526.3B) or the targeted contract completion timeline (March 31, 2026).
The official document does not specify the explicit operational drivers behind this administrative modification, nor does it detail any subsequent financial impacts or updates to performance targets. Consequently, this update should be viewed purely as a routine administrative correction regarding contract classification labels rather than a shift in business fundamental or an indication of structural financial risks.
📝 Editor’s Comment (by K-STOCK Editor)
Hanwha Ocean’s recent disclosure serves to align structural details regarding the shipment destination and buyer classification, adjusting the target from Oceania to Oceania and Asia. Because it introduces no changes to the contract price or execution timelines, this modification carries no immediate economic relevance for valuation models and cannot be categorized as a definitive positive or negative price driver.
The relevant checkpoint for long-term monitoring remains the core provision stating that contract durations and final settlement statements are subject to change during the building phase. As the baseline contract value is fixed to a historical currency calculation from 2022 (1 USD = 1,227.70 KRW), tracking subsequent financial disclosure updates near the final delivery window in March 2026 provides a reliable standard for objective assessment.
📢 Disclaimer & Source Information
Source: This content has been structured and newly written based on official data submitted to the Financial Supervisory Service Electronic Disclosure System (DART).
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