Hanwha Ocean makes waves in global marine defense market

Hanwha Ocean aspires to be the next big wave in the marine industry. [HANWHA OCEAN]

Hanwha Ocean was founded on a culture of technology-oriented excellence.

It aims to become a sustainable green technology company recognized as the new paradigm in the marine industry of the future.

The company is revolutionizing the global marine defense market based on “ultra-gap” technology and leading the ship building market with various eco-friendly products and technologies in response to strengthening environmental regulations.

It is also actively trying to secure competitiveness for sustainable growth by building "smart yards" based on automation.

Hanwha Ocean will enter the global offshore wind power market in earnest and provide total offshore wind power services linked to Hanwha Group’s energy development capabilities.

With its commitment to enriching human life through the earth and the ocean, Hanwha Ocean will create a sustainable future.

Hanwha Ocean recently acquired the offshore wind power business of Hanwha Corporation’s Engineering & Construction (E&C) and the plant business of the Global Business division.

Hanwha Ocean plans to provide total offshore wind power services in line with Hanwha Group's energy development capabilities to complete the value chain of related businesses.

A leader in the building of offshore Wind Turbine Installation Vessel, Hanwha Ocean expects this acquisition to further strengthen the competitiveness of its related businesses.

With the acquisition of Hanwha Corporation’s E&C relevant business performance and engineering procurement construction (EPC) personnel, the company will be able to improve its basic design capabilities and comprehensive project management capabilities.

It will also be one step closer to completing the value chain of offshore wind power, graduating from the business development phase to power generation and sales.

In addition to developing wind power projects, Hanwha Ocean plans to provide total services related to the offshore wind power business, including construction, transportation, installation and maintenance of wind turbine installation vessels, substructures and offshore substations.

In December last year, Hanwha Ocean increased its investment in offshore wind power total solutions from 200 billion won ($145 million) to 300 billion won through the paid-in capital increase.

Hanwha Ocean will pursue its strategy to become a global ocean solution provider by acquiring wind power generation and plant businesses.

By collaborating on offshore wind power, offshore plant design and production technology, water electrolysis technology and hydrogen storage technology developed by affiliates, Hanwha Ocean will develop offshore products related to hydrogen and ammonia production, storage and transportation to establish a new offshore technology value chain.

Hanwha Ocean aims to become a global innovator that not only maximizes the inherent competitiveness of the shipbuilding industry, but also provides solutions to the security and climate change facing the world, spearheading the paradigm shift in the future maritime industry.

As a significant move signaling its strategic transformation, Hanwha Ocean has appointed Philippe Levy, the former president of SBM Offshore Americas, as the president of its Offshore Business division, effective April 1.

Levy's appointment marks a pivotal moment for the company as it embarks on a journey to transition from a traditional shipbuilder to an engineering, procurement, construction, installation, and operation (EPCI(O)) solution provider, offering products such as floating production storage and offloading (FPSO), floating liquefied natural gas (FLNG), offshore renewables and other floating production units.

With 25 years of experience at SBM Offshore, Levy not only has executive leadership experience as president of the SBM Offshore Americas Division since 2020, but also has exclusive business experience as executive advisor for CNOOC in Guyana, during which he advised the Co-ventures (ExxonMobil, Hess and CNOOC) on execution strategies for FPSO and LNG development.

Levy's appointment underscores Hanwha Ocean's commitment to becoming a leading EPCI(O) solution provider in the maritime industry.

Based on Levy’s experience in the management and execution of major EPCI oil and gas projects as well as his expertise in business development, global supply chain, project controls, construction and information systems, Hanwha Oceans expects Levy to be a key catalyst for the company's transformational journey going forward.

BY JEONG SEONWU [jeong.seonwu@joongang.co.kr]