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Hanwha Ocean Q1 Net Profit Rises 131.8% to 500 Billion Won on LNG Carrier Growth
Hanwha Ocean Co. reported a first-quarter net profit of 500 billion won, up 131.8 percent from the previous year, driven by high-value LNG carrier projects. Operating profit reached 441.1 billion won, exceeding estimates. The company secured $2.45 billion in new orders, including LNG carriers and VLCCs.
Apr 27, 1:44 AM·1m read1 source
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Hanwha Ocean Co. 9 million. 8 percent from the year-earlier period, according to the company's regulatory filing reported by Yonhap.
6 billion won in the first quarter of 2025. 2 trillion won. The operating profit was 17 percent higher than the average estimate from a Yonhap Infomax survey.
A company official stated that the commercial shipbuilding division continued to lead growth, supported by a greater share of high-priced LNG carrier projects. The naval and special ship unit maintained stable sales backed by submarine and surface vessel construction during the first quarter of 2026.
The energy plant division saw a temporary decline in sales due to project completions during the first quarter of 2026.
45 billion during the period, including four LNG carriers, seven very large crude carriers (VLCCs) and one wind turbine installation vessel (WTIV). Hanwha Ocean expects profitability to continue improving as sales from high-value shipbuilding projects accelerate.
The company's energy plant division will continue to seek new orders centered on floating production storage and offloading (FPSO) units, floating LNG facilities, and offshore platforms.
A file photo taken July 28, 2025, shows Hanwha Ocean's shipyard in Geoje, about 330 kilometers southeast of Seoul.
