SEOUL, Nov. 10 (Korea Bizwire) — Hanwha Ocean Co. on Monday welcomed China’s decision to suspend its sanctions on U.S. subsidiaries of the South Korean shipbuilder for one year, also expressing hope for its improved ties with Chinese partners. “We welcome the Chinese government’s decision,” Hanwha Ocean said in a statement. “We hope our relationship [...]
Related: China’s Retaliation Against Hanwha Ocean Signals Broader Maritime Power Struggle With U.S. 1. What Happened China announced retaliatory measures against five U.S.-based subsidiaries of South Korea’s Hanwha Ocean Co., claiming they assisted Washington’s investigation into China’s maritime, logistics, and shipbuilding industries.The sanctions bar Chinese individuals and organizations from engaging in any transaction or cooperation with the [...]
SEOUL, Oct. 14 (Korea Bizwire) – China announced Tuesday it will impose retaliatory measures against five U.S.-based subsidiaries of South Korean shipbuilder Hanwha Ocean Co., accusing them of cooperating with a U.S. investigation targeting China’s maritime and shipbuilding industries. In a statement, the Chinese commerce ministry claimed Hanwha Ocean’s U.S. affiliates assisted and supported the [...]
SEOUL, Sept. 17 (Korea Bizwire) — Hanwha Ocean Co. said Wednesday it has clinched a 1.93 trillion-won (US$1.47 billion) order from Taiwan’s YangMing Marine Transport Corp. to build seven liquefied natural gas (LNG) dual-fuel container ships. The vessels, each with a capacity of 15,880 twenty-foot equivalent units (TEUs), will be built at Hanwha’s Okpo Shipyard [...]
SEOUL, Aug. 25(Korea Bizwire) — Hanwha Ocean Co., a major South Korean shipbuilder, will invest an additional US$70 million “to expand” its shipyard in Philadelphia, according to the White House’s website Monday. Hanwha Group acquired Philly Shipyard for 140 billion won (US$100 million) last year to enter the U.S. shipbuilding market, with a long-term goal [...]
SEOUL, July 31 (Korea Bizwire) — South Korea’s Hanwha Ocean, one of the nation’s “Big Three” shipbuilders, has opened a new engineering center in India to bolster its competitiveness in the rapidly expanding offshore plant market. According to industry sources on Thursday, Hanwha Ocean’s Offshore Division officially inaugurated the Hanwha Ocean Global Engineering Center India [...]
SEOUL, July 16 (Korea Bizwire) — South Korean shipbuilder Hanwha Ocean Co. plans to establish a new overseas office in Canada as part of its efforts to strengthen its presence in the North American defense market, according to industry sources Wednesday. The company’s board of directors approved the plan to set up the Canadian office [...]
SEOUL, July 1 (Korea Bizwire) — Hanwha Ocean Co. said Tuesday it has been selected as the preferred bidder to construct South Korea’s next-generation icebreaking research vessel, which is expected to significantly enhance the country’s polar exploration capabilities. The shipbuilder was selected as the preferred bidder for the project led by the Ministry of Oceans [...]
SEOUL, June 4 (Korea Bizwire) — Hanwha Ocean Co., a major South Korean shipbuilder, said Wednesday it has signed a memorandum of understanding (MOU) with Norway’s ship classification society DNV to collaborate on fuel tank technology. The MOU was signed during the Nor-Shipping 2025 conference, a biennial global maritime event, that began Monday and will [...]
SEOUL, June 2 (Korea Bizwire) — Hanwha Ocean Co., a major South Korean shipbuilder, said Monday it has partnered with Lloyd’s Register (LR) of Britain to strengthen cooperation on ship certification as part of its broader strategy to expand into Europe’s naval vessel markets. The companies signed a strategic memorandum of understanding (MOU) Friday during [...]