Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
This filing discloses an amendment to Hanwha Ocean’s contract to construct one Floating Production Storage and Offloading (FPSO) unit valued at KRW 1.095T, extending the contract completion date from December 5, 2025, to September 26, 2026, upon mutual agreement with the client.
📊 [Key Disclosure Highlights & Summary]
- Filing Type: Sales and Supply Contract (Amendment)
- Related Filing Submission Date: June 14, 2021
- Reason for Amendment: Extension of contract period upon agreement with the client
- Key Revisions:
- Contract Period (End Date): (Before) December 5, 2025 → (After) September 26, 2026
[Detailed Contract Terms]
- Contract Classification: Construction Contract
- Contract Title: 1 FPSO
- Contract Amount: KRW 1,094,800,000,000 (Applied exchange rate of USD 1 = KRW 1,115.00 as of June 11, 2021; rounded to the nearest hundred million KRW)
- Recent Annual Revenue: KRW 7,030,200,000,000 (Based on FY2020 consolidated financial statements; rounded to the nearest hundred million KRW)
- Contract-to-Revenue Ratio: 15.6%
- Counterparty: European Shipowner (Relationship: None)
- Supply Region: Europe
- Contract Period: June 11, 2021 – September 26, 2026
- Order Date: June 11, 2021
- Disclosure Deferral Details: None
- Other Material Notes: Contract period and final settlement amount are subject to change during construction.
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Project Execution and Contract Amendments Following Schedule Extension
This amendment extends the project completion date for a major FPSO construction contract with a European shipowner, making it essential to monitor the progress of construction according to the revised schedule (June 11, 2021 – September 26, 2026) and check whether any further amendments occur regarding contract terms or final settlement amounts. Tracking these factors is important to confirm project implementation and track any future terms adjustments. Relevant project progress and settlement updates can be verified through future regular financial reports (Quarterly, Semi-Annual, or Annual Business Reports) or subsequent official public disclosures.
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