Fact Source: Financial Supervisory Service DART
💡 Executive Summary
Hanwha Ocean secured a major contract worth KRW 757.7B (7.0% of recent annual revenue) to construct four Very Large Crude Carriers (VLCC) for an African shipowner.
📊 [Key Disclosure Details & Financial Summary]
1. Contract Overview
- Contract Type: Construction Order
- Contract Name: 4 Very Large Crude Carriers (VLCC)
2. Financial Details & Scale
- Contract Amount: KRW 757,700,000,000 (KRW 757.7B / approx. USD 516.0M equivalent)
- Applied FX Rate: USD/KRW = 1,468.40 (Base rate on 2025-11-21, rounded at 100M KRW)
- Recent Revenue: KRW 10,776,000,000,000 (KRW 10.776T, FY2024 consolidated basis)
- Ratio to Revenue: 7.0%
- Contracting Party & Relationship: African Shipowner (No special relationship)
- Sales/Supply Region: Africa Region
3. Contract Terms & Schedule
- Contract Period: 2025-11-21 ~ 2028-11-30
- Contract Date: 2025-11-21
- 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 757.7B contract with an African shipowner to build four VLCCs.
Verifying that payments are collected according to progress and that construction proceeds as scheduled over the contract period (November 21, 2025 – November 30, 2028) is important for evaluating whether revenue from this large-scale 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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