en.Wedoany.com Reported - Hanwha Ocean recently disclosed that it has received an order for 4 very large crude carriers (VLCCs), with a total contract value of 800.1 billion won (approximately $524 million), scheduled for delivery before February 2030. Market sources confirmed that the shipowner behind the order is Pan Ocean, a subsidiary of South Korea's Harim Group.

Pan Ocean is one of South Korea's largest dry bulk shipping companies, with dry bulk operations accounting for about 60% of its overall business. In recent years, the company has been accelerating its expansion into crude oil transportation through a dual-track approach of newbuilding and secondhand vessel acquisitions.

Previously, Pan Ocean had ordered 2 VLCCs from HD Hyundai Samho Heavy Industries in mid-2025, scheduled for delivery in 2027; in March 2026, it placed an order for 1 VLCC at Qingdao Beihai Shipbuilding, expected for delivery by the end of 2029. With these 4 orders from Hanwha Ocean, Pan Ocean's current total VLCC newbuilding orderbook reaches 7 vessels.

Additionally, Pan Ocean earlier this year announced the acquisition of 10 VLCCs from SK Shipping for approximately $700 million, significantly expanding its business scale in the crude oil transportation market. The 4 new vessels ordered by Pan Ocean have secured long-term charters from South Korean oil giant SK Energy, further ensuring the revenue stability of the orders.

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