Hanwha Ocean is awaiting Thailand’s decision on its next-generation frigate procurement after entering the Royal Thai Navy competition with the OCEAN-40F.
The tender for one frigate closed on 21 April 2026. Six companies submitted proposals after the Royal Thai Navy invited 11 international shipbuilders to participate. The bidders were Hanwha Ocean, HD Hyundai Heavy Industries, Navantia, ST Engineering, ASFAT and TAIS.
Hanwha Ocean proposed the OCEAN-40F, a 4,000-tonne frigate design that it displayed at the Defense & Security 2025 exhibition in Bangkok.
The South Korean shipbuilder has previously supplied a frigate to Thailand. Then operating as Daewoo Shipbuilding & Marine Engineering, the company secured an order for a 3,700-tonne-class frigate in 2013 and delivered HTMS Bhumibol Adulyadej in 2018.
Cooperation on Thailand’s future frigate requirements was discussed before the current tender. A seven-member Royal Thai Navy delegation visited Hanwha Ocean’s Geoje shipyard on 25 June 2025, including Rear Admiral Chaksawat Saiwong, Director of Policy and Planning at Royal Thai Navy Headquarters.
During the visit, the delegation was briefed on the shipbuilder’s naval construction capabilities, localization strategy and approach to technology transfer. Hanwha Ocean also presented plans covering technology transfer, cooperation with Thai shipyards and workforce training.
Thailand subsequently moved ahead with the formal procurement process. The Royal Thai Navy approved a FY2026 budget of THB17.5 billion for the first phase, while its 2023 white paper set out a requirement for four new frigates to be in service by 2037. The current tender covers one vessel.
By early July 2026, the Royal Thai Navy was preparing to submit its shipbuilder selection to the Defence Ministry’s permanent secretary for approval. The procurement process had begun with six proposals submitted in April.
Later that month, Royal Thai Navy Commander-in-Chief Admiral Pairoj Fuangchan said the winning bidder was expected to be announced before the end of July.
As of 6 September 2026, however, a final decision on Thailand’s next-generation frigate procurement had not been announced. Hanwha Ocean therefore remained awaiting the outcome of the program.
