Hanwha Launches Hanwha Engine, Expanding Shipbuilding Solutions

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Hanwha, a prominent global conglomerate, has unveiled its latest venture with the launch of Hanwha Engine, solidifying its position in the marine engine industry. This initiative comes on the heels of Hanwha’s acquisition of HSD Engine, the world’s second-largest marine engine company by market share.

Hanwha Engine aims to lead the marine engine sector with its cutting-edge technological prowess, particularly in low-speed marine engines crucial for powering large vessels. The company will supply these engines to major global shipbuilders, including its affiliate, Hanwha Ocean.

Following approval at an extraordinary shareholders’ meeting on February 27, Hanwha Engine Co., Ltd. was established, with Moon Ghee Ryu, a former executive from Hanwha Impact, appointed as CEO.

Moon Ghee Ryu emphasized the significance of the Hanwha Engine brand, highlighting its integration into the Hanwha family and its role as a catalyst for future growth. He underscored the commitment of the company’s executives and employees to deliver unparalleled value, embrace challenges, and foster innovation.

Hanwha Impact holds a majority stake of 32.8% in Hanwha Engine, following the memorandum of understanding (MOU) signed with HSD Engine for the acquisition in February of the previous year.

With the addition of Hanwha Engine to its portfolio of affiliates, which includes Hanwha Ocean acquired last year, Hanwha now offers comprehensive shipbuilding solutions encompassing engine production, leveraging its in-house manufacturing and technology capabilities.

Hanwha aims to capitalize on Hanwha Engine’s expertise in marine engine production and synergies among its affiliates to drive the development and commercialization of ships powered by eco-friendly fuels such as ammonia. Hanwha Engine is actively engaged in developing smart ship solutions for enhanced operational efficiency and alternative fuel propulsion systems. The company also plans to expand its aftermarket business, offering post-sales support such as sales and repairs of ship parts.

Hanwha Engine boasts several notable achievements, including being the first engine builder to commercialize a dual-fuel low-speed engine in 2013. Additionally, the company pioneered the development of the world’s first low-temperature selective catalytic reduction (SCR) system, known as the DelNOx SCR system, for ships in 2013, achieving commercialization the following year. This proprietary system is an eco-friendly innovation capable of removing over 90% of nitrogen oxide (NOx) emissions from ship engines’ exhaust gases.

hanwha launches hanwha engines

Source Hanwha