Fact Source: Financial Supervisory Service DART
💡 Executive Summary
Hanwha Ocean secured a contract worth KRW 572.2B (5.3% of recent annual revenue) to construct three Very Large Crude Carriers (VLCC) for a Middle Eastern shipowner.
📊 [Key Disclosure Details & Financial Summary]
1. Contract Overview
- Contract Type: Construction Order
- Contract Name: 3 Very Large Crude Carriers (VLCC)
2. Financial Details & Scale
- Contract Amount: KRW 572,200,000,000 (KRW 572.2B / approx. USD 388.5M equivalent)
- Applied FX Rate: USD/KRW = 1,472.80 (Base rate on 2026-01-14, rounded at 100M KRW)
- Recent Revenue: KRW 10,776,000,000,000 (KRW 10.776T, FY2024 consolidated basis)
- Ratio to Revenue: 5.3%
- Contracting Party & Relationship: Middle Eastern Shipowner (No special relationship)
- Sales/Supply Region: Middle East Region
3. Contract Terms & Schedule
- Contract Period: 2026-01-14 ~ 2029-04-30
- Contract Date: 2026-01-14
- 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 572.2B contract with a Middle Eastern shipowner to build three VLCCs.
Verifying that payments are collected according to progress and that construction proceeds as scheduled over the contract period (January 14, 2026 – April 30, 2029) is important for evaluating whether revenue from this 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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