Key Points
- Zodiac Maritime is understood to have ordered two 174,000-m³ LNG carriers from South Korea’s Hanwha Ocean, according to Riviera News and other shipping-industry reports.
- Hanwha Ocean disclosed on 28 September 2026 that it had signed a KRW680bn (about US$500m) contract for two LNG carriers for an unidentified African shipowner.
- Brokerage reports cited by Riviera News have linked the undisclosed buyer to London-based Zodiac Maritime, controlled by Israeli shipping businessman Eyal Ofer.
- The two firm vessels are scheduled for delivery by November 2029, with the contract implying a value of roughly US$250m per ship.
- Reports indicate that the deal may include options for two additional LNG carriers, potentially taking Zodiac Maritime’s programme to four vessels, although the options have not been independently confirmed by Hanwha Ocean.
- The order would mark Zodiac Maritime’s first entry into conventional LNG carrier shipping, expanding a fleet already covering containerships, bulk carriers, tankers, gas and chemical tankers, and vehicle carriers.
- Zodiac has already been expanding in gas-related shipping, including LPG vessels, and was also linked to an order for three very large ammonia carriers (VLACs) at Hanwha Ocean earlier in 2026.
- Hanwha Ocean said its 2026 commercial order intake had reached 41 vessels worth US$7.71bn, including eight LNG carriers, 18 VLCCs and six containerships.
- The latest LNG contract forms part of a wider series of September orders reported for Hanwha Ocean, including LNG dual-fuel containerships and VLGCs.
The reported order places London-headquartered Zodiac Maritime at the centre of a new expansion into conventional LNG shipping, with two large-capacity carriers understood to have been contracted at South Korea’s Hanwha Ocean for approximately US$500m. Hanwha Ocean’s regulatory disclosure identifies the customer only as an African shipowner, while brokerage and shipbuilding sources have linked the contract to Zodiac Maritime. The vessels are expected to be delivered by November 2029, subject to the terms of the reported contract.
What has Zodiac Maritime reportedly ordered from Hanwha Ocean?
As reported by Riviera News on 30 September 2026, Zodiac Maritime is understood to have ordered two 174,000-cubic-metre LNG carriers from South Korean shipbuilder Hanwha Ocean. Riviera News said the order would represent the London-based shipowner’s first move into the LNG carrier sector.
The report is based on Hanwha Ocean’s stock exchange disclosure and brokerage information linking the unidentified customer to Zodiac Maritime. Hanwha Ocean itself did not name Zodiac Maritime in its filing.
According to Riviera News, Hanwha Ocean disclosed on 28 September that it had signed a KRW680bn contract, equivalent to about US$500m, for two LNG carriers for an African shipowner. Delivery is scheduled for November 2029, with the reported contract value working out at approximately US$250m for each vessel.
The distinction between the confirmed disclosure and the reported identity of the buyer is important. The shipyard has publicly disclosed the existence and value of the contract but has not officially identified Zodiac Maritime as the customer in the material cited by Riviera News.
How was Zodiac Maritime linked to the LNG carrier order?
Riviera News said brokerage reports were responsible for linking Zodiac Maritime to Hanwha Ocean’s unidentified contract.
Riviera’s report specifically referred to Intermodal’s Week 39 report, which lists Zodiac Maritime as the buyer of two 174,000-m³ LNG carriers at Hanwha Ocean. The vessels were reportedly priced at US$250m each and scheduled for delivery in 2029.
A separate report by Adis Ajdin of Splash247, published on 29 September 2026, similarly identified Eyal Ofer’s Zodiac Maritime as the company behind a KRW680bn, approximately US$499.6m, order at Hanwha Ocean. Splash247 also reported that shipbuilding sources placed Zodiac behind the order.
Meanwhile, Richard Meade of Lloyd’s List reported on 28 September that Zodiac Maritime had entered the LNG carrier market with an order for up to four 174,000-m³ vessels at Hanwha Ocean. Lloyd’s List said the development represented an expansion of Zodiac’s newbuilding programme across several vessel sectors.
Taken together, the reports point to Zodiac Maritime as the likely buyer, while the official Hanwha disclosure cited by these publications leaves the shipowner unnamed.
When are the two LNG carriers expected to be delivered?
The two firm LNG carriers are scheduled for delivery by November 2029, according to Riviera News and other shipping reports.
A report published by New-Ships.com said the contract was signed on 23 September 2026 and runs until 2 November 2029. It reported that the KRW680bn value applies to the two firm vessels.
The delivery timetable places the vessels several years ahead of the contract date and means the ships will join Zodiac’s fleet as part of its longer-term fleet renewal and diversification programme.
The reported capacity of 174,000 cubic metres per ship places the vessels within the large LNG carrier segment used to transport liquefied natural gas between production and import markets.
Could Zodiac Maritime order two more LNG carriers?
Reports indicate that the contract may extend beyond the two firm vessels.
Adis Ajdin of Splash247 reported that shipbuilding sources understood the arrangement to include options for another two LNG carriers.
New-Ships.com also reported that the order includes options for two additional 174,000-m³ LNG carriers, potentially increasing the overall series to four vessels. However, it noted that no verified contract value had been disclosed for the optional ships.
Riviera News likewise said some reports had indicated options for two additional vessels.
Consequently, the two LNG carriers should be treated as the firmly reported order, while the additional two ships remain options rather than confirmed firm vessels based on the information currently available.
Why is the order significant for Zodiac Maritime’s fleet?
The reported transaction would broaden Zodiac Maritime’s exposure to the LNG carrier segment.
Zodiac Maritime’s own website describes the company as London-headquartered and says its fleet comprises approximately 200 ships, supported by more than 6,500 seafarers. Its fleet includes containerships, bulk carriers, crude oil tankers, product tankers, gas and chemical tankers, and car and truck carriers.
The company’s public information therefore shows an already diversified fleet. The reported LNG carrier order would add another major gas-shipping segment to that portfolio.
Riviera News said Zodiac has expanded its presence in gas shipping in recent years and has a reported half-dozen LPG carriers. It also noted the company’s reported order for three very large ammonia carriers at Hanwha Ocean in May 2026.
That development forms part of a wider pattern of newbuilding activity rather than an isolated transaction.
What other ships has Zodiac Maritime been ordering?
Zodiac Maritime has been active across several shipping segments during 2026.
Robert Willmington of Lloyd’s List, in a report reproduced in Zodiac Maritime’s own “In the News” section, reported in May that the company had ordered four Suezmax tankers from Jiangsu Hantong Ship Heavy Industry. The deal took Zodiac’s Suezmax orderbook to nine vessels, alongside a commitment for up to 10 VLCCs at the same yard.
The same report said Zodiac had also been confirmed as the buyer of two 7,000-CEU vehicle carriers from Yantai CIMC Raffles Shipyard. The vessels are LNG dual-fuel ships and were being built to a design similar to 10 vessels previously contracted from the yard.
The company’s broader programme has therefore involved crude tankers, vehicle carriers, containerships and gas-related vessels.
Splash247 also reported that Zodiac had added four 158,000-dwt Suezmaxes at Jiangsu New Hantong earlier in 2026 and was building a large VLCC programme at the Chinese yard. It is estimated that the company had around 80 tankers in service or on order across crude, product, gas and chemical carrier businesses.
What does the Hanwha Ocean order book show?
The Zodiac-linked LNG order is also significant from Hanwha Ocean’s perspective.
According to Riviera News, Hanwha Ocean’s latest LNG contract brought its 2026 newbuilding intake to 41 vessels worth US$7.71bn. The orderbook cited by the shipyard includes 18 VLCCs, eight LNG carriers, six containerships, three VLACs, three very large gas carriers, one wind turbine installation vessel and one special-purpose vessel, as well as one onshore plant.
The figures demonstrate the breadth of Hanwha Ocean’s 2026 commercial order intake.
Adis Ajdin of Splash247 reported the same 41-vessel and US$7.71bn order-intake figure, noting that the total included 18 VLCCs, eight LNG carriers and six containerships.
The latest LNG contract therefore contributes to a wider shipbuilding order pipeline rather than standing alone.
What other September contracts has Hanwha Ocean secured?
Riviera News reported that the two LNG carriers were part of approximately US$2bn of new contracts reportedly secured by Hanwha Ocean during September.
Other September contracts identified in Hanwha Ocean stock exchange filings included six 13,650-TEU LNG dual-fuel containerships for Yang Ming Marine Transport and three very large gas carriers for Dorian LPG, according to Riviera News.
These contracts place LNG carriers within a broader commercial shipbuilding environment in which shipyards are simultaneously receiving orders for conventional cargo ships, gas carriers and vessels using alternative or lower-emission fuel technologies.
How does the order fit Zodiac Maritime’s recent gas-shipping expansion?
The LNG order follows Zodiac Maritime’s reported expansion into other gas-related shipping segments.
Riviera News highlighted Zodiac’s reported LPG fleet and its previous link to three VLACs at Hanwha Ocean.
Zodiac Maritime’s own website has also described its broader newbuilding activity. The company’s public material says its operated fleet continues to expand and diversify, while its London headquarters oversees commercial, technical, operations, crewing, sale and purchase, insurance, legal, health, safety, quality and environmental management functions.
The company’s existing gas fleet means the reported LNG carrier order would not represent its first exposure to gas transportation. Rather, it would mark an entry into the conventional LNG carrier segment specifically.
What is known about Hanwha Ocean’s LNG shipbuilding capabilities?
Hanwha Ocean is an established builder of LNG carriers.
The shipbuilder’s 2025 corporate brochure lists LNG carriers, very large gas and ammonia carriers, container ships, and VLCCs among its commercial vessel businesses. It also states that Hanwha Ocean delivered its 200th LNG carrier in 2025.
The company’s corporate history identifies a number of LNG-related shipbuilding milestones, including the construction of LNG carriers for Arctic operations and the development of LNG fuel and containment technologies.
The reported Zodiac order therefore places the UK shipowner’s potential first conventional LNG carriers with a shipbuilder that has an established LNG construction record.
What does the reported order mean for the UK maritime sector?
Zodiac Maritime is a London-headquartered shipping company, making the reported order relevant to the UK’s maritime corporate landscape even though the vessels will be built in South Korea.
Zodiac’s own corporate information states that the company is headquartered in London and operates a diverse fleet of approximately 200 ships. Its London-based shore operation covers commercial, technical, operational, crewing, legal and other ship-management functions.
The company’s website also says it has more than 6,500 seafarers working across its operations.
For the UK’s maritime business community, the reported order illustrates how a London-headquartered owner can place major newbuilding contracts with overseas shipyards while managing commercial and operational activities from the UK.
In this context, Shipping, Maritime and Ports is directly relevant when considering the commercial, operational and fleet-management issues raised by the development. The transaction also has a clear connection with Oil and Gas, particularly through LNG transportation and the infrastructure supporting international gas trade.
What remains unconfirmed about the Zodiac Maritime LNG order?
The central point still requiring caution is the identity of the buyer.
Hanwha Ocean’s disclosure identified the customer as an African shipowner, rather than naming Zodiac Maritime. Riviera News, Splash247 and Lloyd’s List have all reported information linking Zodiac to the transaction, based on brokerage or shipbuilding sources.
The two 174,000-m³ vessels and the KRW680bn contract are therefore reported as firm elements of Hanwha Ocean’s disclosed transaction. The attribution of the order specifically to Zodiac Maritime is based on industry reporting rather than a publicly identified customer name in Hanwha Ocean’s disclosure.
The two possible additional vessels are also not equivalent to the two firm ships. Reports describe them as options, and no verified contract value has been disclosed for those optional units.
For now, the reported development can be summarised as a two-vessel LNG carrier order at Hanwha Ocean linked by industry sources to Zodiac Maritime, with potential options that could expand the programme to four vessels.
The reported deal would give the London-based shipowner its first conventional LNG carriers and add another major segment to a fleet already active across tankers, gas, containers, bulk and vehicle transportation. For Hanwha Ocean, meanwhile, the contract contributes to a 2026 commercial order intake reported at 41 vessels worth US$7.71bn.
As the reported vessels are scheduled for delivery in 2029, the transaction also represents a long-term fleet investment rather than an immediate change to Zodiac Maritime’s operating fleet. Further confirmation from Zodiac Maritime or Hanwha Ocean would be required to establish the buyer’s identity and whether the reported options for two additional LNG carriers are ultimately exercised.