Hanwha has taken a significant step forward in its shipbuilding capabilities with the launch of its new affiliate, Hanwha Engine. This move comes after the successful acquisition of HSD Engine, the world’s second-largest marine engine company.

Hanwha Engine is poised to become a key player in the marine engine industry, boasting exceptional technological expertise, particularly in low-speed marine engines for large vessels. The company supplies engines to leading global shipbuilders, including Hanwha Ocean.

At an extraordinary shareholders’ meeting held on February 27, stakeholders voted in favour of establishing Hanwha Engine Co., Ltd. Moon Ghee Ryu, former head of Hanwha Impact’s investment strategy department, has been appointed CEO.

Ryu emphasised the significance of the Hanwha Engine name, highlighting its association with the Hanwha family and the company’s commitment to driving growth and innovation. He expressed confidence in providing unparalleled value to customers, embracing challenges, and fostering a culture of self-innovation.

With Hanwha Impact as the majority shareholder, holding a 32.8 percent stake, Hanwha Engine marks another addition to Hanwha’s portfolio of affiliates. This move positions Hanwha to offer comprehensive shipbuilding solutions, including engine production, leveraging its in-house manufacturing and technology capabilities.

Drawing on Hanwha Engine’s expertise and the synergy among Hanwha’s affiliates, Hanwha aims to spearhead the development and commercialization of ships powered by eco-friendly fuels, such as ammonia. The company is actively developing smart ship solutions for efficient operations and alternative fuel-propulsion systems.

Hanwha Engine has a track record of innovation, being the first to commercialise a dual-fuel low-speed engine in 2013. Additionally, it developed the world’s first low-temperature selective catalytic reduction system for ships, achieving commercial success the following year. This eco-friendly system can remove over 90 percent of nitrogen oxide emissions from ship engines’ exhaust gases, demonstrating Hanwha Engine’s commitment to sustainability and technological advancement.

For more information visit www.hanwha.com