Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
Boeing Seeks FAA Emissions Waiver to Continue 777F Freighter Sales Amid Strong Cargo Demand 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role 
Bridgewater Associates Plans Major Employee Ownership Expansion in Milestone Year 
Hanhwa Ocean Co. Ltd. refuted reports that it has suspended orders in its business enterprise. The shipbuilding firm, formerly Daewoo Shipbuilding & Marine Engineering Co., Ltd., further said that the speculations that it has reduced its docks are not true either.
Company Clarifies Untrue Claims
Hanwha Ocean said these reports about the supposed halting of container ship orders are unfounded. On Monday, Jan. 8, a company official issued a statement clarifying that they have stopped accepting orders for container vessels.
According to Korea's Business Post, Hanhwa Oceans also debunked the speculations that the firm may discontinue the business due to poor performance and sales last year. As a matter of fact, it has been a busy 2023 for the company as it has received orders for 17 ships consisting of five liquefied natural gas (LNG) carriers, seven special ships, and five ammonia carriers.
Furthermore, although today's business trend focuses on highly profitable, eco-friendly ship business, Hanwa Ocean said it has never considered withdrawing from the container ship business and has no plans to stop taking orders for certain types of ships.
"We are establishing a sales strategy for each ship type accordingly," a company official said. "But we inform you that the statement about suspending business for certain ship types, such as containers, is not true."
He added, "Our basic position is to take selective orders to improve profitability, but we have no plans to reduce the current number of docks, which are five, by stopping taking orders for specific ship types."
Reported Exit from Container Vessel Business
The clarification came after several media outlets reported that Hanwha Ocean had quit, eliminating its money-losing container shipbuilding unit.
The Korea Economic Daily reported that the company discontinued this business to focus on LNG and other profitable vessels. It noted that the decision was also due to heavy losses as China-based companies are starting to become the dominant players in the container shipbuilding industry.
Photo by: Hanhwa Ocean Newsroom
