Hanwha Ocean Shares Rise on Upbeat Expectations

South Korean shipbuilder sees strong earnings growth and contract wins in 2026

Published on Mar. 11, 2026

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Shares of Hanwha Ocean, a South Korean shipbuilder, rose 7.4% on Wednesday, outperforming the broader market, driven by expectations for solid earnings growth and brisk contract wins this year. The company's shipyard in Philadelphia could benefit from an expected surge in U.S. demand for liquefied natural gas carriers, while its military-vessel division is bidding for several international projects.

Why it matters

Hanwha Ocean's strong performance reflects the growing demand for shipbuilding services, particularly in the LNG carrier and military vessel segments, as global importers seek alternative supplies and countries invest in naval capabilities. The company's success also highlights the importance of diversified revenue streams and strategic geographic positioning in the competitive shipbuilding industry.

The details

Kiwoom Securities analyst Lee Han-gyeol expects Hanwha's operating profit to jump 50% to 1.668 trillion won in 2026, with revenue projected to rise 7.5% to 13.641 trillion won. Nomura analyst Eon Hwang also believes the company could secure $13.5 billion in new contracts this year, up 34% from 2025, supported by business opportunities with the U.S. Navy. Additionally, South Korean President Lee Jae Myung praised Hanwha's recent decision to award outsourced contract workers the same bonus increases as Hanwha staff, as part of the government's efforts to promote a culture of mutual growth across the economy.

  • Hanwha Ocean's stock rose 7.4% on Wednesday, March 11, 2026.
  • Kiwoom Securities expects Hanwha's operating profit to jump 50% to 1.668 trillion won in 2026, with revenue projected to rise 7.5% to 13.641 trillion won.
  • Nomura analyst Eon Hwang believes Hanwha could secure $13.5 billion in new contracts this year, up 34% from 2025.

The players

Hanwha Ocean

A South Korean shipbuilder that operates a shipyard in Philadelphia and is bidding for various military vessel projects in Canada, Saudi Arabia, the Philippines, and Thailand.

Lee Han-gyeol

An analyst at Kiwoom Securities who is positive on Hanwha Ocean's earnings growth and contract win prospects.

Eon Hwang

An analyst at Nomura who believes Hanwha Ocean could secure $13.5 billion in new contracts this year, up 34% from 2025.

Lee Jae Myung

The President of South Korea, who praised Hanwha Ocean's decision to award outsourced contract workers the same bonus increases as Hanwha staff.

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What they’re saying

“Our government hopes to spread a culture of mutual growth across the economy, following the example set by Hanwha Ocean.”

— Lee Jae Myung, President of South Korea (Office of the President of South Korea)

The takeaway

Hanwha Ocean's strong performance and growth prospects in the shipbuilding industry, particularly in the LNG carrier and military vessel segments, highlight the company's strategic positioning and diversified revenue streams. The company's commitment to employee welfare, as recognized by the South Korean president, also demonstrates its focus on fostering a culture of mutual growth, which could set an example for the broader economy.