https://cdnph.upi.com/ph/st/th/3951781271621/2026/i/17812718859116/v1.5/Hanwha-Ocean-selected-for-51B-destroyer-project-in-South-Korea.jpg" /> Hanwha Ocean has been selected as preferred bidder for a $5.1 billion naval shipbuilding project, defeating HD Hyundai Heavy Industries.