Hanwha Ocean Q2 profit nearly doubles on high-margin LNG ships

Hanwha Ocean said Monday its second-quarter operating profit nearly doubled from a year earlier, driven by the ramp-up of liquefied natural gas carriers and other large projects, as well as a major revenue contribution from the delivery of an offshore project.

The South Korean shipbuilder posted an operating profit of 736.1 billion won ($500.6 million) for the April-June period, up 98 percent from a year earlier, according to a regulatory filing.

Revenue surged 65.2 percent to 5.44 trillion won, ...