Source Facts: Financial Supervisory Service Electronic Disclosure System (DART) / 2024-02-23
Disclosure Type: Single Sales / Supply Contract
💡 3-Second Summary
Hanwha Ocean has signed a contract with an Oceanian shipowner to supply two Very Large Crude Carriers (VLCC) valued at KRW 342B, with the contract period running until November 30, 2026.
📊 1. [Summary of Key Disclosure Content and Major Figures]
- Contract Category & Name: Construction Contract / Two (2) Very Large Crude Carriers
- Contract Amount: KRW 342,000,000,000 (Approximately KRW 342B)
- Proportion to Recent Sales: 7.0% (Compared to consolidated annual sales of KRW 4,860,200,000,000 at the end of 2022)
- Counterparty & Sales/Supply Region: Oceanian Shipowner / Oceania Region
- Contract Period: Start Date 2024-02-22 ~ End Date 2026-11-30
- Contract (Order) Date: 2024-02-22
- Other Investment Considerations:
- The contract value was calculated by applying the base trading exchange rate of 1 USD = 1,335.00 KRW as of the contract date on February 22, 2024.
- 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 regulatory filing serves as a factual indicator confirming Hanwha Ocean’s execution of a new large-scale commercial shipbuilding contract with a client based in the Oceania region. The total contract value stands at approximately KRW 342B, representing 7.0% of the company’s consolidated annual revenue reported at the end of fiscal year 2022. The document sets a clear operational timeline spanning approximately two years and nine months from the formal signing date.
The official filing does not provide explicit qualitative analysis or quantitative estimates regarding the quarterly revenue distribution, margins, or cost fluctuations affecting future financial statements. Therefore, analytical interpretation should be restricted to the explicit parameters defined in the text. Investors should note that the contract duration and the final settlement figures remain subject to adjustment based on the ongoing construction phase and shipowner negotiations, as explicitly noted in the document.
📝 Editor’s Comment (by K-STOCK Editor)
Hanwha Ocean’s recent disclosure details the definitive terms for a contract involving two very large crude carriers valued at KRW 342B. Beyond documenting the baseline parameters—such as the historical currency conversion standard of 1 USD = 1,335.00 KRW and the targeted delivery window set for late November 2026—the disclosure itself cannot be utilized to forecast short-term stock price movements.
The main parameter for long-term tracking is whether any operational adjustments occur during the actual building phase, as allowed under the contract provisions. Monitoring subsequent official disclosures for any revisions to the final settlement values or project durations prior to the ultimate delivery date remains a reliable step for checking the data.
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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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