Fact Source: Financial Supervisory Service DART / 2024-03-25
Disclosure Type: Single Sales or Supply Contract
💡 3-Second Summary
Hanwha Ocean has signed a construction contract worth KRW 2.44T for eight LNG carriers with an anonymous shipowner in the Oceania region. This is a large-scale transaction representing 50.2% of the company’s recent annual revenue.
📊 1. [Key Disclosure Content & Summary of Financial Figures]
- Contract Category: Construction Contract (Contract Name: 8 LNG Carriers)
- Contract Amount: KRW 2,439,300,000,000
- Recent Revenue: KRW 4,860,200,000,000 (Based on the consolidated financial statements at the end of 2022)
- Ratio to Revenue: 50.2%
- Contract Counterparty: Shipowner in the Oceania region
- Sales & Supply Region: Oceania Region
- Contract Period:
- Start Date: March 24, 2024
- End Date: January 31, 2028
- Contract Date: March 24, 2024
- Stock Number: 042660
- Other Notes: The contract amount and recent revenue figures are rounded to the nearest KRW 100M. The contract amount was calculated by applying the trading base exchange rate of USD 1 = KRW 1,326.30 as of March 22, 2024. The contract period and final settlement amount are subject to modification during the construction process. This filing is related to the preceding disclosure filed on March 4, 2024 (Other Management Matters).
📈 2. [Expert View: What This Disclosure Means for Investors]
This filing serves as an official notice clarifying that Hanwha Ocean has secured and finalized a construction contract valued at KRW 2.44T from a shipowner located in the Oceania region. The contract schedule is defined from March 24, 2024, to January 31, 2028, spanning an operational window of approximately 3 years and 10 months. This volume constitutes a substantial portion, exactly 50.2%, of the company’s total consolidated revenue from the base fiscal year.
The contract value stated in the filing is converted into KRW using the fixed trading base exchange rate of USD 1 = KRW 1,326.30 as of March 22, 2024. The original document lacks specific data analyzing the exact revenue recognition scheduling across upcoming quarters or the projected profit margin profiles for this transaction. Consequently, international market participants should interpret this update strictly using the verified facts regarding the revenue ratio, the exchange-rate-based valuation, and the designated timeline.
📝 Editor’s Comment (by K-STOCK Editor)
This construction contract notice outlines a definitive corporate arrangement where Hanwha Ocean will execute a KRW 2.44T project to build eight LNG carriers for an Oceanian shipowner. The document strictly focuses on providing key data, highlighting the contract end date of January 31, 2028, the baseline exchange rate framework, and its structural links to the company’s prior disclosure from March 4.
The essential parameters for market participants to watch next are the prospective adjustments to the operational terms during the execution phase. As disclosed in the notes, both the overall contract period and the ultimate settlement figures remain subject to modification during the construction progress.
Consequently, instead of evaluating this contract as inherently bullish or bearish for equity valuations, investors should treat this disclosure as a factual corporate timeline update and focus on tracking subsequent quarterly financial results and verified operational progress records following the scheduled execution period.
📢 Disclaimer & Source Information
Source: This content was structured and newly written based on official data submitted to the Financial Supervisory Service electronic disclosure system (DART).
Investment Risk Notice: This content is provided for informational and linguistic reference purposes only. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific stocks. All investment decisions and financial responsibilities rest entirely with the investor.
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