Hanwha Shipping orders first US LNG vessel since 1970s

PHILADELPHIA, July 22, 2025 – Hanwha Shipping, the US subsidiary of Korean shipbuilder Hanwha Ocean, has ordered a new LNG carrier from group company Hanwha Philly Shipyard, Bloomberg reported on Tuesday.

It is the first US order for an LNG vessel since the 1970s, according to the company. The vessel will have a capacity of 174,000 cubic metres and be fitted with a gas-injection engine and a GTT containment system. It will cost at least USD 250 million, with the total consideration depending on the final terms agreed between Hanwha Philly Shipyard and Hanwha Ocean.

The order calls for one vessel, with an option for a second.

Hanwha’s move comes amid new US trade policies proposed in April 2025 that target Chinese shipbuilding and aim to encourage domestic production. Provisions under the new policies, which are still pending a final ruling, include requirements that a certain percentage of US LNG exports be shipped on US-built LNG carriers.

Speaking to Bloomberg News, Hanwha Shipping president and CEO Ryan Lynch said a significant portion of the build will be carried out at Hanwha Ocean’s Geoje shipyard in South Korea, while Hanwha Philly Shipyard will handle US regulatory compliance and safety certifications.

The order is a step towards creating a demand signal for US-built LNG tankers, Lynch added, noting that finding the personnel to crew LNG vessels constructed in the US is challenging and can take several years.

Hanwha Ocean operates global shipbuilding, defence and marine engineering businesses. It acquired Philly Shipyard from Aker in June 2024 for USD 100 million. Philly Shipyard specialises in commercial and naval vessel construction and retrofitting, and supplies around 50% of the largest commercial vessels in the US, including tankers and container ships.

Photo of Hanwha Philly Shipyard courtesy of Hanwha Ocean

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