Thai Navy selects Hanwha Ocean for THB16.73bn frigate project

Hanwha Ocean Co., Ltd. has been selected to supply the Royal Thai Navy with a new frigate and associated equipment and support at a quoted price of THB16.73 billion, according to a Navy selection announcement.

The Navy will hold a detailed briefing on the selection on September 18, 2026, after the legally prescribed appeal period ends.

Navy spokesman RAdm Parach Rattanachaiphan said Prime Minister Anutin Charnvirakul had signed an acknowledgement of the selection summary submitted by the Defence Ministry and the Navy on September 4. The permanent secretary for defence subsequently approved the selection outcome on September 7.

Announcement names Hanwha Ocean

Adm Korawit Chayarathi, commander-in-chief of the Royal Thai Fleet and chairman of the frigate procurement project management committee, signed the announcement naming Hanwha Ocean as the selected company.

The procurement covers one frigate, together with its systems and equipment, spare parts, tools, documentation, support services, testing and trials, fuel, lubricants, training, acceptance inspections, warranty coverage and related ceremonies.

Hanwha Ocean’s THB16.73 billion offer is quoted on a customs-duty-exempt basis but includes value-added tax, other applicable taxes, transport and all other expenses.

The announcement specifies a firm and fixed price on a Delivered at Place (DAP) basis under Incoterms 2020.

The package includes transport and insurance through delivery at Sattahip Naval Base in Sattahip subdistrict, Sattahip district, Chonburi, or another location designated by the Navy.

Selection weighs capability and long-term national benefits

Parach said the Navy recognised the strong public interest in the procurement because it involved national security, the protection of Thailand’s maritime interests and the use of public funds.

The Navy therefore placed particular importance on compliance with regulations, value for money, transparency and scrutiny at every stage, he said.

The selection process prioritised the country’s overall interests, considering operational capabilities, suitability for naval missions and value for money throughout the vessel’s service life.

The assessment also considered longer-term benefits for Thailand, including technology transfer, personnel development, the acquisition of technical knowledge and support for the domestic defence industry.

Parach said the project’s guiding principle was not simply that “the Navy gets a ship”, but that “the country must benefit alongside it”.

The investment should help develop Thai skills and industry while strengthening national self-reliance, he said. Its value should extend beyond the day the frigate is delivered and continue benefiting Thailand over the long term.

September 18 briefing to follow appeal deadline

Although the selection outcome has been approved and the announcement names Hanwha Ocean, the period for submitting appeals under the relevant laws and regulations remains open.

Parach said the appeal process was intended to protect the rights of every participant and ensure that the procurement was conducted properly and fairly.

At the September 18 briefing, the Navy will formally present the outcome and explain the selection criteria, reasons for its decision and key elements of the chosen proposal.

It will also outline the benefits expected for both the Navy and Thailand, so that the public receives complete and straightforward information.

“This frigate is being funded with taxpayers’ money. Our aim is therefore not simply to obtain the best ship for the Navy, but to ensure that this investment also delivers benefits for the country,” Parach said.

“The Navy must gain a ship, the country must gain capabilities, Thai people must gain expertise, and Thai industry must have opportunities to grow alongside it.”