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Hanwha Ocean Secures $1.47B Deal To Build 7 Advanced LNG Ships For Yang Ming
South Korea’s Hanwha Ocean Co. has secured a 1.93 trillion-won ($1.47 billion) contract from Taiwan’s Yang Ming Marine Transport Corp. to build seven LNG dual-fuel container ships, marking the shipbuilder’s first order from the Taiwanese carrier.
The new vessels, each with a capacity of 15,880 twenty-foot equivalent units (TEUs), will be constructed at Hanwha’s Okpo Shipyard in Geoje, South Gyeongsang Province, and are scheduled for delivery between 2028 and 2029.
The ships will feature Ammonia Fuel Ready (AFR) specifications, enabling future conversion to ammonia dual-fuel propulsion. This meets strict International Maritime Organisation (IMO) environmental standards while providing flexibility to adopt alternative fuels during the transition to low-carbon shipping. The design has received the Ammonia Fuel Ready Level 1C notation from the American Bureau of Shipping (ABS).
A key innovation is the use of Type-B LNG fuel tanks with a 1.0 bar pressure rating, the first of its kind in the world. This improves safety and allows longer storage of vaporized LNG, supporting more efficient operations. The tanks were developed jointly by Hanwha Ocean and ABS.
Experts say LNG dual-fuel ships can cut greenhouse gas emissions by about 20%, making them a practical choice for shipping companies moving toward net-zero operations. Yang Ming already has five LNG dual-fuel ships of similar size on order, with delivery starting in 2026. The addition of these seven vessels will expand the carrier’s green fleet will grow to 12 vessels, enhancing flexibility and competitiveness globally.
Ammonia is being explored as a next-generation marine fuel because it emits zero CO₂ during combustion. Using LNG tanks designed for future ammonia conversion reduces conversion costs while relying on an increasingly developed supply chain. These features will help Yang Ming comply with upcoming international environmental regulations.
This order follows a similar contract Hanwha Ocean signed in March with Evergreen Marine, another Taiwanese shipper, highlighting the company’s growing presence in Taiwan, and its reputation for eco-friendly and innovative ship designs.
Reference: Yang Ming
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