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Hanwha Ocean Takes Lead in Thailand’s $509M Frigate Deal With OCEAN-40F

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Hanwha Ocean has been selected as the preferred bidder for the Royal Thai Navy's next-generation frigate program, putting the South Korean shipbuilder in position to build a new 4,000-ton-class warship under a package priced at THB16.73 billion, about $509 million. The procurement covers one frigate plus combat and ship systems, spares, tools, documentation, testing, training, logistics support, warranty and delivery to Sattahip Naval Base. Thailand approved the selection on September 7 and publicly identified Hanwha Ocean on September 8, but a statutory appeal period remains open and detailed contract negotiations are still required. The Navy plans a fuller briefing on September 18.

Thailand Next-Generation Frigate

Operator Impact Snapshot

Selection Status
PREFERRED BIDDER

Hanwha Ocean has cleared the main competitive hurdle

Thailand has formally selected Hanwha Ocean for negotiations, but the statutory appeal period and detailed contract talks still have to be completed before a final construction contract is fully locked in.

Contract Package
$509M

The price covers much more than the hull

The THB16.73 billion firm-price package includes one frigate, systems, equipment, spare parts, training, testing, logistics, warranty, transport and insurance through delivery in Thailand.

Thai Industry
20% MINIMUM

Domestic shipbuilding participation is built into the procurement

Thailand's tender requires at least 20 percent domestic shipbuilding participation, with technology transfer, workforce development and industrial offsets forming part of the evaluation.

Weapons Fit
NEGOTIATION

Hanwha's proposal uses a heavily European combat package

The OCEAN-40F shown for Thailand includes MBDA air-defense and anti-ship weapons, a Naval Group combat-management architecture and a layered sonar and counter-drone suite. Final configuration can still change in negotiations.

Follow-On Potential
WATCH

The first hull could become the opening ship of a larger renewal

Thailand has outlined a long-term objective of operating eight frigates by 2037 while only four are currently operational. The present procurement covers just one ship, leaving room for future follow-on competition and orders.

฿16.73B
Hanwha Ocean's firm and fixed offer
4,000t
Approximate displacement of the proposed OCEAN-40F
6
Companies that submitted final frigate proposals
Sept. 18
Planned Thai Navy briefing after appeal period
OCEAN-40F Proposal Baseline

More Firepower Than Thailand's Existing Korean Frigate

Hanwha's proposal increases displacement, missile capacity, underwater sensors and counter-drone capability while retaining a design lineage familiar to the Royal Thai Navy.

System / Metric OCEAN-40F Proposal Operational Role Supplier / Technology Commercial / Integration Read
Displacement Approximately 4,000 tonnes Multi-purpose frigate Hanwha Ocean Roughly 250 tonnes heavier than HTMS Bhumibol Adulyadej.
Length Approximately 124 m Ocean-going surface combatant Hanwha Ocean Similar overall length to the existing Thai Korean-built frigate but with more internal margin.
Air Defense VLS 16 cells for VL MICA NG AIR DEFENSE MBDA Provides a modern point and local-area air-defense layer.
Anti-Ship Strike Exocet MM40 Block 3C Surface and coastal strike MBDA European missile architecture is a major feature of Hanwha's Thai configuration.
Close Air Defense Two SIMBAD RC launchers Short-range missile defense MBDA Adds another defensive layer beyond the main VLS battery.
Main Gun 76 mm naval gun Surface, air and shore engagement Final supplier configuration subject to contract Conventional multi-role frigate gun capability.
Counter-Drone 30 mm guns plus RF jamming and GNSS spoofing C-UAS Integrated hard-kill and soft-kill package One of the more distinctive features highlighted in Hanwha's proposal.
Underwater Sensors Hull sonar, towed array and intercept sonar ASW Cohort-linked integration package Designed for submarines, divers and smaller unmanned underwater threats.
Combat Management SETIS proposed Sensor and weapon integration Naval Group Allows the European missile and sensor package to be integrated around an established CMS.
Crew More than 145 personnel Ship operation and combat systems Royal Thai Navy configuration Above the approximately 136-person baseline of HTMS Bhumibol Adulyadej.
Existing Thai Reference Ship HTMS Bhumibol Adulyadej

Approximately 3,750 tonnes and 123 meters long. Hanwha's predecessor delivered the frigate in 2018, giving the bidder an existing operational reference inside the Royal Thai Navy.

New Proposal OCEAN-40F

Approximately 4,000 tonnes and 124 meters long, with increased missile, sensor, survivability and future-growth capacity.

The weapon and sensor package remains a proposal baseline. Preferred-bidder selection allows detailed negotiations over technical specifications and scope. Final contracted equipment can therefore differ from the OCEAN-40F configuration shown publicly at Defense & Security 2025.
Interactive Naval Procurement Model

Frigate Program, Local Content & Follow-On Value Calculator

Model the value of a one-ship frigate award, potential follow-on construction, Thai industrial participation and long-term maintenance support.

Starting scenario: The initial frigate package is set at $509 million. Thailand's procurement framework requires at least 20 percent domestic shipbuilding participation. Follow-on ships and MRO percentages below are illustrative because Thailand has not awarded additional OCEAN-40F vessels.
Modeled Ship Procurement $0
Thai Industrial Share $0
Foreign Shipbuilding Share $0
Long-Term Support Pool $0
Thai Support Opportunity $0
Total Program + Support $0
Average Ship Procurement Cost $0
Annualized Program Scale $0

Industrial Value Split

Compare modeled Thai shipbuilding participation, foreign construction value and long-term support.

Thai Shipbuilding
$0
Foreign Shipbuilding
$0
Lifecycle Support
$0
Industrial Base Signal
Calculating...

Thai Build Share 0%
Illustrative strategic model only. Only the first frigate has been selected for detailed negotiations. Follow-on ships, production learning, support value, inflation and future Thai workshare are assumptions rather than Royal Thai Navy or Hanwha Ocean forecasts. Actual program value will depend on final specifications, weapons, exchange rates, inflation, local construction scope, government approvals and future procurement decisions.
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