Source: Financial Supervisory Service Dart System / 2025-08-27
Disclosure Type: Single Sales/Supply Contract
💡 3-Second Summary
Hanwha Ocean has signed a KRW 346.6 Billion contract to construct one Liquefied Natural Gas Carrier (LNGC) for its affiliate, Hanwha Philly Shipyard, Inc., with the contract period running from August 26, 2025, to February 29, 2028.
📊 1. [Key Disclosure Details & Major Figures Summary]
- Contract Classification: Shipbuilding Contract (Contract Name: One LNGC)
- Contract Details and Scale:
- Contract Amount: KRW 346,600,000,000 (KRW 346.6 Billion)
- Ratio to Recent Revenue: 3.2% of Hanwha Ocean’s total revenue of KRW 10.78 Trillion (Based on consolidated financial statements as of year-end 2024, rounded to the nearest hundred million KRW)
- Contract Partner & Relationship: Hanwha Philly Shipyard, Inc. / Affiliate
- Supply Region: Americas region
- Contract Period: Start date: 2025-08-26, End date: 2028-02-29
- Key Terms of Contract:
- Downpayment/Advance payment exists (Yes)
- Collection terms: Payment based on construction progress
- Date of Contract (Order Date): 2025-08-26
Conversion Base: The contract amount was calculated by applying the trading standard exchange rate of 1 USD = 1,386.30 KRW as of the contract date (2025-08-26). The contract period and the final settlement amount are subject to future changes during the construction process.
📈 2. [Expert’s Perspective: What This Disclosure Means for Investors]
- Intragroup Transaction and Scale: This construction agreement is executed with Hanwha Ocean’s U.S. affiliate (Hanwha Philly Shipyard, Inc.) rather than a third-party buyer. The transaction scale is valued at KRW 346.6 Billion, which represents 3.2% of the company’s consolidated revenue from the previous fiscal year.
- Exchange Rate Baseline: The contract valuation expressed in KRW is calculated based on the base exchange rate of 1,386.30 KRW per USD on the execution date of August 26, 2025.
- Project Scope and Timeline Adjustments: Given the long-term nature of this project, which is scheduled to conclude on February 29, 2028, both the final settlement amount and the contract duration remain subject to change as the construction progresses.
📝 Editor’s Comment (by K-STOCK Editor)
This disclosure details Hanwha Ocean’s newly secured contract to construct one Liquefied Natural Gas Carrier (LNGC) for its U.S. affiliate, Hanwha Philly Shipyard, Inc., valued at KRW 346.6 Billion. This order corresponds to 3.2% of the company’s consolidated revenue for the fiscal year ended 2024.
Investors should monitor two objective variables going forward. First is the transaction performance and potential contract adjustment within the affiliate relationship. Because this agreement is executed with a related party rather than an independent buyer, market participants should check subsequent periodic reports—specifically the footnotes detailing transactions with related parties—to confirm that the actual financial settlement progresses as scheduled. Second is the monitoring of construction milestones and final pricing. Since the contract value is translated using the exchange rate of 1,386.30 KRW/USD on the contract date and the filing explicitly notes that both the timeline and pricing are subject to change during the construction process, investors should cross-reference future quarterly utilization rates and order backlogs to trace any variations in the finalized revenue figures.
📢 Disclaimer & Source Information
Source: This content was newly structured and written based on official data submitted to the Financial Supervisory Service’s Electronic Disclosure System (DART).
Investment Advisory Warning: This material is provided for informational and language reference purposes only. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific securities. All investment decisions and financial responsibilities rest solely with the individual investor.
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