Hanwha Ocean reported that its operating profit for the first quarter was 258.6 billion won, a 388.8% increase compared to the same period last year, as of the 28th. During the same period, revenue increased by 37.6% to 3.1431 trillion won, and net profit rose by 322.9% to 215.7 billion won.
Compared to the fourth quarter of last year, revenue decreased by 3%, while operating profit increased by 53%. A Hanwha Ocean official noted that "first-quarter revenue fell due to fewer working days compared to the previous quarter," adding, "Operating profit increased thanks to a reduction in the proportion of low-cost container ships and an expansion in revenue from high-profit liquefied natural gas carriers."
Along with its earnings announcement, the company also disclosed ship orders. On this day, Hanwha Ocean announced that it secured two very large crude carriers (VLCC) from an Oceania shipowner for 371 billion won.
The company also announced plans to introduce a floating dock and a 6,500-ton class very large offshore crane. The investment of about 600 billion won aims to increase production and construction efficiency. A floating dock will be added by April 2027. Currently, the company operates a total of five docks, including two land-based docks and three floating docks.
The very large offshore crane is set to be introduced by the end of November 2027. It is expected to enable more efficient processes as it can directly lift and load large blocks. Currently, the company operates two 3,600-ton offshore cranes in parallel, making the process somewhat complex.
A Hanwha Ocean official explained that "the investment for the additional introduction of a floating dock and a very large offshore crane is part of a mid-to-long-term strategy to lead the future maritime industry."