Thai Navy Awards Frigate Contract to Hanwha Ocean
South Korea's Hanwha Ocean won a 16.73 billion baht contract to build a frigate for the Royal Thai Navy, with delivery planned for Sattahip Naval Base in Chonburi province.
The Royal Thai Navy announced on September 8, 2024 that Hanwha Ocean Co., Ltd has been selected to build one frigate at a bid price of 16.73 billion baht. Admiral Kravedt Chayaruchi, Commander of the Combatant Fleet and chair of the frigate procurement project committee, signed the official announcement. The contract covers the frigate and all associated systems, equipment, spare parts, tools, documentation, support, testing, fuel, lubricants, training, inspection, warranty, and related ceremonies. Hanwha Ocean's bid of 16.73 billion baht is tax-inclusive, covers all import duties and transport costs, and is quoted as a firm and fixed price under DAP Incoterms 2020, with delivery to Sattahip Naval Base in Chonburi province or another location designated by the Royal Thai Navy.
