Hanwha Ocean has filed a correction disclosure regarding its contract for the construction of four Very Large Crude Carriers (VLCCs) with an Asian shipowner, correcting the contract start date to the actual effective date.

According to the disclosure filed on the 19th, Hanwha Ocean had originally stated the contract start date as June 12, 2026. However, it was changed to June 19, 2026, the date the contract was actually effective, by mutual agreement between the contracting parties. The reason for the correction is the change in the contract start date.

This contract is for the construction of four VLCCs, with a total contract value of KRW 800.1 billion. This amount is equivalent to 6.3% of Hanwha Ocean's most recent consolidated revenue of KRW 12.7835 trillion as of the end of 2025.

The counterparty to the contract is an Asian shipowner, and the contract period runs from June 19, 2026, to February 22, 2030. The contract payments are scheduled to be collected as the construction progresses. The company explained that it applied the exchange rate as of June 12, 2026 (1 USD = KRW 1,527) when calculating the contract amount.

Additionally, the company noted that the contract period and the final settlement amount may be subject to change during the future construction process. Meanwhile, the original order date for this contract was June 12, 2026. The initial disclosure had stated that the contract was expected to become effective by June 30 following the fulfillment of precedents. However, through this correction disclosure, it has been clarified that the contract was confirmed effective as of June 19.