What did Hanwha Ocean win from the Royal Thai Navy, and what does the project include?

Hanwha Ocean was named the preferred bidder for a frigate project for the Royal Thai Navy. The project includes construction of a 4,000-ton-class frigate plus related equipment and comprehensive maintenance and logistics support.

How much is the Royal Thai Navy frigate project worth, and what happens next?

The Royal Thai Navy set the project value at 16.73 billion baht, or $509 million. Hanwha Ocean said it will hold detailed negotiations with the navy to finalize the contract terms.

Has Hanwha Ocean built a Thai Navy frigate before?

Yes. In 2013, the company, then known as Daewoo Shipbuilding and Marine Engineering, won an order to build a 3,600-ton-class frigate for the Royal Thai Navy and delivered it in 2018.

Hanwha Ocean selected preferred bidder for Thai frigate project

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Summary

Hanwha Ocean was selected as the preferred bidder for a frigate project for the Royal Thai Navy on Wednesday. The project covers a 4,000-ton-class frigate, related equipment, and comprehensive maintenance and logistics support. The Royal Thai Navy valued the bid at 16.73 billion baht, or $509 million. Hanwha Ocean said it will now hold detailed negotiations to finalize contract terms.

Key Facts

The Royal Thai Navy set the project value at 16.73 billion baht, or $509 million, in its bid notice.
The project calls for a 4,000-ton-class frigate, related equipment, and comprehensive maintenance and logistics support.
Hanwha Ocean said it will hold detailed negotiations with the Royal Thai Navy to finalize the contract terms.
Hanwha Ocean previously won an order in 2013 to build a 3,600-ton-class frigate for the Royal Thai Navy and delivered it in 2018.
The company said the latest deal could pave the way for additional orders as Thailand seeks to modernize its naval arm.

By Yonhap

Published Sep 9, 2026 8:47 am KST

Hanwha Ocean Co.'s frigate is seen in this photo provided by the Korean shipbuilder, Wednesday. Courtesy of Hanwha Ocean

Korean shipbuilder Hanwha Ocean Co. said Wednesday it has been selected as the preferred bidder for a frigate project for the Royal Thai Navy.

The project calls for the construction of a 4,000-ton-class frigate, along with related equipment and comprehensive maintenance and logistics support. The Royal Thai Navy set the project value at 16.73 billion baht ($509 million) in its bid notice.

Hanwha Ocean said in a regulatory filing that it will hold detailed negotiations with the Royal Thai Navy to finalize the contract terms.

The selection builds on Hanwha Ocean's previous track record in the Southeast Asian nation.

In 2013, the company, then known as Daewoo Shipbuilding & Marine Engineering Co., won an order to build a 3,600-ton-class frigate for the Royal Thai Navy and delivered it in 2018.

The latest deal could also pave the way for additional orders as Thailand seeks to modernize its naval arm.

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