China’s Ministry of Commerce (MOFCOM) has imposed sanctions on five U.S.-registered subsidiaries of South Korea’s Hanwha Ocean, prohibiting “transactions, cooperation or related activities” with any organizations or individuals in China.
The measure, outlined in MOFCOM Order No. 6 of 2025, took effect on October 14, 2025.
The sanctioned entities are Hanwha Shipping LLC, Hanwha Philly Shipyard Inc., Hanwha Ocean USA International LLC, Hanwha Shipping Holdings LLC, and HS USA Holdings Corp.
According to the ministry, the decision responds to the companies’ involvement in Washington’s Section 301 actions targeting China’s maritime, logistics, and shipbuilding industries. A MOFCOM spokesperson said China is “strongly dissatisfied and firmly opposed” to the U.S. measures and took steps to safeguard its “sovereignty, security and development interests.”
Following the announcement, Hanwha Ocean’s shares fell by as much as about 8% in Seoul trading.
Hanwha Ocean is a South Korean shipbuilding company formerly known as Daewoo Shipbuilding & Marine Engineering Co., Ltd. It became part of Hanwha Group in 2023 and operates as one of the world’s major producers of LNG carriers and naval vessels, headquartered in Geoje, South Korea.
