South Korea's third-largest shipbuilder logged 485.7 billion won in third-quarter operating profit as contracts won during the 2022 to 2023 price expansion phase entered heavy construction.
HLBy Hyun-jung Lee, Korea correspondent, shipbuilding and defense··Updated October 27, 2026·3 min read
ShareLinkedInXWhatsAppEmailShipyard workers weld on a liquefied natural gas carrier as construction proceeds on high-margin vessels. (AI-generated image)
Hanwha Ocean posted a 67.6% rise in third-quarter operating profit on Oct. 27, 2026, as high-margin liquefied natural gas carriers booked during the post-2021 market upturn entered heavy billing.
The shipbuilder recorded an operating profit of 485.7 billion won ($350 million) for the three months ended Sept. 30. That compares with 289.8 billion won in the third quarter of 2025.
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Korea correspondent, shipbuilding and defense — Hyun-jung Lee reports on Korean yards, order books and naval programs, and on the defense export contracts that increasingly sit alongside them.
