Hanwha Shipping, the US subsidiary of Hanwha Ocean, has ordered 10 medium-range (MR) oil and chemical tankers from Hanwha Philly Shipyard, with deliveries beginning in early 2029.
The order is the largest for US-built commercial vessels in over two decades and marks the highest-value commercial contract for a US shipyard in that time.
The vessels will be used to transport crude oil, refined petroleum, and chemical products, expanding the U.S. Jones Act fleet of domestically built and operated ships.
Hanwha Shipping also exercised an option to build a second LNG carrier, doubling the current US orderbook for LNG carriers — the highest level since the 1970s.
This follows the company’s recent contract for what was described as the first export-market-ready LNG carrier ordered in the US in nearly 50 years.
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Ryan Lynch, President & CEO of Hanwha Shipping, said: “We are able to order these US-made MR tankers because of Hanwha’s investment in building a world-class shipyard in Philadelphia.
“Hanwha has made a long-term commitment to bringing cutting-edge technology from Korea to the Hanwha Philly Shipyard that will create thousands of good, advanced manufacturing jobs in the US and spearhead the revitalisation of America’s maritime industrial base.”
Hanwha plans to transfer shipbuilding technologies and supply chains from Korea to its Philadelphia shipyard to build next-generation vessels and enhance US competitiveness in commercial shipbuilding.
The two LNG carriers will be jointly constructed by Hanwha Ocean and Hanwha Philly Shipyard and used to export US LNG to international markets.
