Daehan Shipbuilding wins orders for two more crude oil tankers, continues high-margin repeat construction

[Financial News] Daehan Shipbuilding Co., Ltd. said on the 12th that it had won orders for two Suezmax crude oil tankers. These are the company’s main vessel type, and it is maximizing profitability through repeat construction.
Daehan Shipbuilding Co., Ltd. disclosed that it had won an order that day from a shipowner in Oceania for two 157,000-DWT Suezmax crude oil tankers. The contract is valued at 249.8 billion won. The vessels are scheduled for delivery by June 2030.
Suezmax crude oil tankers are designed to transit the Suez Canal. They are a key driver of Daehan Shipbuilding’s improved profitability. The company selectively secures orders for multiple vessels and builds them repeatedly, boosting productivity and lowering costs. As of September, 30 of Daehan Shipbuilding’s 35 vessels in its order backlog were Suezmax crude oil tankers.
Daehan Shipbuilding posted operating profit of 82.7 billion won in the third quarter, up 24.4% from the same period a year earlier. In particular, it has maintained operating margins in the 20% range for eight consecutive quarters. This year, its margins were 26.8% in the first quarter, 26.9% in the second and 25.2% in the third. Its cumulative operating margin is 26.3%, up 3.7 percentage points from a year earlier.
With work secured through 2030, Daehan Shipbuilding plans to further increase profits by selectively taking orders for high-margin vessel types. Given the relatively high share of Suezmax crude oil tankers, the company is expected to gradually expand orders for shuttle tankers and container ships, which it is currently building.

[email protected] Kim Yun-ho Reporter