Hanwha Ocean, a major player in South Korea’s shipbuilding industry, has recently captured the attention of both investors and environmental advocates with a string of high-profile contracts and technological milestones. As the world’s shipping sector faces mounting pressure to decarbonize, Hanwha Ocean’s strategic moves signal its ambition to lead the next wave of green maritime innovation—while also delivering robust financial results.
According to CBC News, Hanwha Ocean’s stock price closed at 111,500 KRW on October 2, 2025, marking a 1% rise and capping a three-day rally ahead of the national holiday. The company’s shares hit an intraday high of 111,500 KRW and a low of 109,100 KRW, reflecting strong trading activity and sustained investor interest. In fact, institutional investors purchased 378,323 shares during the session, while individual investors sold 361,299 shares and foreign investors offloaded 17,745 shares. Trading volume soared to 1,191,342 shares—a clear sign that Hanwha Ocean is on the radar of market watchers.
But it’s not just the stock market that’s buzzing. Hanwha Ocean announced on October 2 that it had signed a contract worth 111 million KRW to supply three units of offshore oil platforms. The price per unit was set at 1,100 KRW, and the total contract value for the month reached 111 million KRW, with the actual order amount coming in at 109.1 million KRW. This deal, received on September 30, 2025, adds to a growing list of lucrative orders that have helped the company maintain momentum in a competitive market.
The same day, Hanwha Ocean inked another contract valued at 378.23 million KRW. Domestic orders accounted for 361.29 million KRW, while foreign orders made up 107.745 million KRW. The combined order volume for the day stood at an impressive 1.19 billion KRW. With such figures, it’s no wonder the company’s performance is drawing keen interest from analysts and investors alike.
Yet, numbers tell only part of the story. Hanwha Ocean is also making waves in the world of green shipping technology. As reported by The Guru, the company has taken a significant step forward in the development of ammonia-powered vessels—a move that could reshape the future of maritime transport. On October 9, 2025, at the prestigious ‘Borovelistas (BV)’ event in Milan, Hanwha Ocean, in partnership with Greece’s Nafplio, received concept approval for its ammonia-fueled ship design. This approval, granted by the French classification society Bureau Veritas, represents a major milestone in the race to commercialize ships that run on cleaner fuels.
The new vessel, jointly developed by Hanwha Ocean and Nafplio, is designed to operate on both ammonia and liquefied natural gas (LPG). It boasts advanced safety features, including state-of-the-art leak detection and containment systems for ammonia fuel supply. This dual-fuel capability not only enhances operational flexibility but also positions the ship as a frontrunner in the transition to low-carbon maritime transport.
Lee Jung-sun, Hanwha Ocean’s executive director for basic design, emphasized the significance of the achievement: “This is a meaningful moment that positions us as a technology leader in next-generation eco-friendly ammonia-powered ships. We will devote ourselves to technology development to become a global leader in eco-friendly propulsion solutions.”
Nafplio’s technical chief, Efstathios Simos, echoed this sentiment, highlighting the company’s long-standing expertise: “We are proud to be a pioneer in ammonia fuel, as a representative LPG trader with decades of experience in handling and transporting ammonia. This is a meaningful step forward that strengthens our commitment to safe operations and supports the industry’s shift to low-carbon fuels and sustainable shipping.”
The adoption of ammonia as a marine fuel is attracting increasing attention, largely because it does not emit carbon dioxide when burned. The International Energy Agency (IEA) projects that ammonia could account for about 45% of global ship fuel demand by 2050, underscoring its potential as a linchpin in the decarbonization of shipping. Hanwha Ocean’s early investments in this area are thus both timely and strategically astute.
Hanwha Ocean’s commitment to green technology is not new. Back in November 2023, the company secured an order from Nafplio for a very large ammonia carrier (VLAC) capable of carrying 6,562 tons and designed for conversion to ammonia propulsion. The following year, Hanwha Ocean partnered with U.S. startup Amogy to develop ammonia-based power systems, further cementing its reputation as an innovator in the field.
On October 3, 2025, Hanwha Ocean also signed a contract with Ammonia for the supply of liquefied natural gas (LPG) and the development of related systems, expanding its portfolio of clean energy solutions. The company’s relentless push into ammonia technology has not gone unnoticed. According to Simos, Hanwha Ocean has been a "representative developer of LPG technology for over ten years and has capabilities in safety and export support." This track record provides a solid foundation for the company’s latest ventures in ammonia-fueled shipping.
Still, challenges remain. The IEA’s goal to reduce ammonia supply by approximately 45% by 2050 sets a high bar for the industry. Meeting this target will require not only technological advances but also robust supply chains, regulatory support, and international cooperation. Hanwha Ocean’s leadership in forging partnerships and securing concept approvals positions it well, but the road ahead will demand sustained effort and adaptability.
For investors, the convergence of strong financial performance and technological leadership makes Hanwha Ocean a company to watch. The recent surge in contract wins and the stock’s upward trajectory reflect confidence in the company’s direction. Yet, as CBC News cautions, all investment decisions ultimately rest with the investor, and the company assumes no responsibility for potential losses.
Industry insiders are now keenly observing what comes next. With the national holiday over and trading set to resume, market participants are eager to see whether Hanwha Ocean can maintain its momentum. The company’s ability to balance short-term financial gains with long-term innovation in green shipping will likely determine its standing in the years to come.
In a sector where tradition often meets transformation, Hanwha Ocean’s recent achievements stand as a testament to the power of vision, partnership, and technological prowess. As global shipping steers toward a greener horizon, Hanwha Ocean appears well-positioned to help chart the course.