Oceania-based shipowner pays 141.4 billion won ($94.1 million) per vessel; company's order tally reaches 15 ships this year

An aerial view of the Daehan Shipbuilding yards. [Provided by Daehan Shipbuilding]
An aerial view of the Daehan Shipbuilding yards. [Provided by Daehan Shipbuilding]

Daehan Shipbuilding announced Monday that it secured an order for two Suezmax crude oil tankers from an Oceania-based shipowner on Thursday.

The contract is valued at approximately 141.4 billion won ($94.1 million) per vessel, for a combined 282.8 billion won ($188 million) — the highest per-ship price the company has booked this year. The vessels are scheduled for delivery to the shipowner beginning in November 2028.

The deal brings Daehan Shipbuilding's cumulative order tally to 15 ships this year, allowing the company to surpass its annual target well ahead of schedule. The consecutive orders have also secured the company's construction backlog through the end of 2029.

The order streak is tied to geopolitical risk. After the war between the United States and Israel against Iran, major countries moved to diversify their crude oil supply chains, driving a sharp increase in demand for tankers capable of transporting crude.

The sustained order rally has strengthened Daehan Shipbuilding's financial footing. In the first quarter, the company posted an operating profit margin of 26.8 percent on a consolidated basis, with sales of 308.3 billion won ($205 million) and operating profit of 82.6 billion won ($54.9 million).

"Productivity has improved significantly through our consecutive Suezmax construction system," Wang Sam-dong, chief executive of Daehan Shipbuilding's business division, said. "The know-how we have accumulated allowed us to shorten production cycles, which in turn enabled us to secure a highly profitable construction backlog."


yeongdai@heraldcorp.com