Daehan Shipbuilding Lands Two Tanker Order

Daehan Shipbuilding secured a significant contract on November 11 for the construction of two 157,000 DWT-class Suezmax crude oil tankers. The total value of this deal amounts to approximately 124.9 billion won, or $96.1 million per vessel, leading to a combined contract value of about 250 billion won, or $192.3 million. This order brings Daehan Shipbuilding's total orders for the year to 19 vessels.

The contract is with a major global shipping company listed on the New York Stock Exchange. This company had not placed newbuilding orders for tanker vessels in roughly 20 years until recently. They chose Daehan Shipbuilding as their first collaboration partner in May, following a purchase of two tankers that were under construction at the Haenam Shipyard through a resale method. A visit to the shipyard in July led to the signing of the main contract, as the high-quality standards on-site impressed the representatives.

By securing this contract, Daehan Shipbuilding has now surpassed its annual order target within the first quarter of the year. The company currently has a total order backlog of 37 vessels, worth approximately 4.66 trillion won, or $3.58 billion. Jin Ki-bong, Head of Sales at Daehan Shipbuilding, stated that this contract provides mid-to-long-term shipbuilding volumes extending until 2030.

He added that the company plans to continue additional order activities while maintaining a selective order strategy focused on profitability. The two tankers in this order will be built at the Haenam Shipyard and are expected to be delivered to the shipowner in May and June 2030, respectively.