Hanwha Shipping orders LNG carrier from Hanwha Philly Shipyard

With this contract for one LNG carrier and an option for a second vessel, Hanwha is bringing its LNG shipbuilding and operational expertise from Korea to the US through capability and technology transfers that support the growth of the US maritime industrial base. This initiative aims to meet the growing demand for US LNG carriers that are crewed by US mariners and comply with rigorous U.S. Coast Guard standards. These vessels represent a resurgence in US shipbuilding capabilities, buoyed by recent US trade policies that require a growing percentage of LNG exports to be transported on US vessels.

“We’re excited to leverage Hanwha’s world-class shipbuilding prowess to equip American industrial partners with the skills to construct next-generation LNG carriers for the first time in nearly five decades,” said Ryan Lynch, President and CEO of Houston-based Hanwha Shipping. “Hanwha Ocean – Philly Shipyard’s Korean shipbuilding affiliate – became the world’s first shipbuilder to produce and deliver its 200th LNG carrier earlier this year. This amazing milestone reinforces Hanwha’s global leadership position in LNG carrier construction, which we are eager to replicate in the US.”

Under the structure of this project, Hanwha Philly Shipyard, as the US-based shipyard, signs the primary shipbuilding contract with Hanwha Shipping – a Hanwha Ocean affiliate and the project’s owner – and then executes the contract as part of a joint-build model with Hanwha Ocean.

With this order, Hanwha is positioned to secure a leading technological edge and supply capability in the North American LNG carrier market. As the only company in the world with shipbuilding operations in both Korea and the US, Hanwha plans to enhance its capability to build LNG carriers in the US through a cooperative model with Hanwha Philly Shipyard.

While a significant portion of the construction will be carried out at Hanwha Ocean’s Geoje shipyard in Korea, the project will be executed as a joint-build model. Hanwha Philly Shipyard will be responsible for US regulatory compliance and safety certifications, laying the foundation for a collaborative production framework. Through this model, Hanwha plans to gradually transfer its advanced shipbuilding technologies to Hanwha Philly Shipyard, enabling the latter to expand into high-value shipbuilding. This LNG carrier order marks a significant milestone in contributing to the revitalisation of the US shipbuilding and maritime sectors.

Hanwha Shipping plans to utilise the ordered vessels as a strategic platform to support US energy security and global energy reliability. In addition to fulfilling internal group transport requirements, the vessels will play a key role in establishing the US-flagged LNG fleet, reinforcing American leadership in global energy logistics, and accelerating the reindustrialisation of the American maritime sector. By leveraging US-sourced LNG and modern shipbuilding capacity, Hanwha aims to offer a reliable, cost-effective solution to rising global demand – particularly amid heightened geopolitical tensions and increasing pressure on energy supply chains.

Last December, Hanwha – a global conglomerate with a world-class shipbuilding arm – acquired Philly Shipyard for US$100 million. The historic shipyard has delivered more than half of the US’s large commercial vessels under the Jones Act since 2000.

With the acquisition, Hanwha is focused on revitalising Hanwha Philly Shipyard as part of its wider goal of increasing US maritime capacity and the US maritime industrial base. Drawing on its decades of shipbuilding expertise and know-how, Hanwha is making significant investments in expanding Philly shipyard’s capabilities with technological advancements, workforce training, and smart systems – creating significantly more onboarding capacity and thousands of new skilled manufacturing jobs in the US.

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