Company
Enabling
Sustainable Voyage
Go Green Builder
technologies that pave the way
for the future, we aim to drive
innovation in the industry.
Our Sustainability Approach
role in various areas of shipbuilding.
played a leading role in
various areas of
shipbuilding.
With numerous “First, Largest, and the Only” records, We have firmly contributed to solidifying South Korea’s position as the world’s leading shipbuilding powerhouse.
HSE
We carry out
invaluable
tasks
of
looking after our
colleagues' lives,
safety,
health, and
environment.
View more
serious
accidents
frequency rate
Social Responsibility
Governance
and transparently to establish sound corporate governance.
the BoD fairly and
transparently to establish
sound corporate
governance.
All directors of Hanwha Ocean meet the qualifications required by relevant laws and regulations.
HIGHLIGHTS
2023
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#Declaration of ESG HOST 2030
Hanwha Ocean’s ESG Committee approved the agenda for ESG management goals in December 2023.
The five core indicators selected for ESG HOST 2030 are GHG reduction, conversion to eco-friendly ships, accident prevention, supply chain ESG assessment, and compliance and ethical management assessment. Based on our commitment, we intend to strengthen our efforts for sustainability and social responsibility. -
#Establishment of the Corporate Governance Charter
Hanwha Ocean established the Corporate Governance Charter in 2023.
Our Corporate Governance Charter covers social responsibilities for our stakeholders including protecting shareholder rights, promoting employee welfare, and fostering partnerships with suppliers. Through the charter, we affirmed our commitment to securing trust from all stakeholders and carrying out management activities with sincerity. -
#Obtained AIP for OCCS
Hanwha Ocean obtained Approval in Principle (AIP) for our independent onboard carbon capture system (OCCS).
We obtained approvals for the OCCS based on the mineralization process using sodium hydroxide (NaOH) from the American Bureau of Shipping (ABS) and Korea Register (KR), and another approval for amine-based OCCS from Bureau Veritas (BV).
Our OCCS technology consumes less energy than other carbon capture technologies and generates relatively less carbon dioxide (CO2) during operation. Thus, it is expected to make a significant contribution to carbon reduction. -
#Standardization of GHG Emissions Calculation in the Shipbuilding Industry
Hanwha Ocean joined hands with domestic shipbuilders and KR to form the first carbon footprint team in the Korean shipbuilding industry with the goal of promoting the standardization of scope 3 emissions calculation.
This project will not only contribute to the efforts to manage and reduce the carbon footprint of the international shipping and shipbuilding industry, but will also be a significant step in achieving sustainable development goals (SDGs) in the international society. -
#Won the Order for the World’s Largest Ammonia Carriers
In November 2023, Hanwha Ocean secured an order for the world’s largest ammonia-fueled very-large ammonia carriers (VLACs), capable of using ammonia as fuel.
VLACs, which can carry 93,000CBM of ammonia, are the world’s largest vessels of this class ever ordered.
Ammonia is a green fuel that emits zero carbon when burned. Thus, VLACs are eco-friendly vessels that allow the shipowner to use carriers that utilize ammonia as fuel, while transporting ammonia. -
#Completion of MWh-class ESS Development
In August 2023, Hanwha Ocean and Hanwha Aerospace completed joint R&D to secure a MWh-class energy storage system (ESS) for large LNG carriers.
This ESS features a container-type packaging design that consolidates the control system to effectively reduce the size, and is embedded with an automatic fire extinguishing system for swift fire detection and suppression.
When applied to vessels, the ESS can form a hybrid system to serve as an auxiliary energy source, enabling less energy consumption and pollutant emissions. -
#The First Korean Company to Join FMC
Hanwha Ocean became the first Korean company to join the First Movers Coalition (FMC) in November 2023.
FMC is a global coalition of companies in heavy-emitting sectors such as steel, chemicals, and aviation with the aim of creating demand for potential decarbonization technologies and gaining a foothold in the market.
We also unveiled our commitment to the decarbonization of shipping at a session titled “The First Fossil-Free Ship on the Water” at the World Economic Forum 2024.
As such, we will continue to strengthen collaboration with international companies and constantly develop sustainable decarbonization technologies to lead the way to carbon neutrality. -
#Labor-Management Joint Declaration Ceremony for Shared Growth
In May 2023, Hanwha Ocean and the Daewoo Shipbuilding and Marine Engineering branch of the Korean Metal Workers’ Union held a labor-management joint declaration ceremony at Geoje Shipyard.
During the ceremony, Hanwha Ocean agreed to succeed the existing collective agreement and make efforts to provide better working conditions and fair treatment. The union, on the other hand, guaranteed to build rational labor-management relations.
The two sides pledged to spare no effort to prevent occupational accidents and build smart sites.
Based on the rational labor-management relations, we will continue to lay the groundwork for shared growth and sustainable development of the community. -
#Declaration of the HSE Management Policy
In October 2023, Hanwha Ocean revised our HSE Management Policy that serves as a system to ensure that health, safety, and environment (HSE) remain as our top management priorities and to promote the health, safety, and happiness of all employees.
The HSE Management Policy, which applies to all employees and stakeholders, is translated into seven languages, ensuring that every individual is aware of it. We will comply with the revised policy strictly to achieve goals of zero serious accidents and 100% compliance with environmental regulations.
Sustainability report
