The company said Tuesday it signed a shipbuilding contract on March 16 with an Oceania-based shipping company to build one Suezmax-class crude oil tanker worth about 130 billion won.
Including the latest deal, Daehan Shipbuilding said it has won orders for a total of nine vessels so far this year, surpassing 82% of its annual order target.
The customer first signed with Daehan Shipbuilding in 2023 and has placed additional orders each year since then, the company said. It described the latest order as an example of turning global geopolitical risks into business opportunities, as rising tensions in the Middle East, including Iran, have pushed ships onto longer detour routes and sharply increased crude transport distances.
Daehan Shipbuilding said that trend is driving demand and prices higher for Suezmax tankers, which are suited to long-haul operations, and is supporting new orders for the company, which it said has strong competitiveness in the segment.
"The fact that an existing customer returns every year shows the market fully recognizes our shipbuilding capabilities and premium value," a Daehan Shipbuilding official said. The official added that demand for high-efficiency Suezmax vessels is expected to rise amid recent Middle East-driven changes in logistics conditions, making it possible to reach the company’s annual order goal early.
* This article has been translated by AI.
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