Daehan Shipbuilding Secures Major Orders for Suezmax Vessels
Daehan Shipbuilding announced on January 29 that it has successfully secured orders for six out of the eleven Suezmax vessels placed globally this year. This significant achievement highlights the company’s strong position in the maritime industry, particularly in the construction of large crude oil tankers. The latest order, confirmed just a day prior, involves two Suezmax-class crude oil tankers commissioned by a European shipping company. The total value of this contract is estimated at 250 billion won, or approximately $175 million. The vessels are set for sequential delivery in January and May of 2029.
This recent deal follows an earlier order for four Suezmax vessels, bringing Daehan Shipbuilding’s total orders for the year to six. The company has expressed confidence in its ability to meet the growing demand for these vessels, which are essential for transporting crude oil across global shipping routes.
Strong Order Backlog and Market Confidence
A company official remarked on the positive trend in orders since the beginning of the year, stating, “The order rally since the start of the new year has allowed us to preemptively secure work.” Daehan Shipbuilding currently boasts an order backlog of approximately 30 vessels, which translates to a stable construction volume equivalent to about three years of work. This backlog not only secures the company’s operational stability but also positions it favorably in the competitive shipbuilding market.
Jin Ki-bong, the head of sales at Daehan Shipbuilding, noted that the proportion of repeat orders from existing shipowners has been steadily increasing among global shipping companies. This trend reflects the deep trust and strong relationships that Daehan has built with its regular clients. The company aims to leverage this trust to further strengthen its dominant position in the Suezmax market.
As the demand for Suezmax vessels continues to rise, Daehan Shipbuilding is poised to capitalize on its recent successes. The company’s strategic focus on maintaining strong client relationships and expanding its order book will be crucial as it navigates the evolving landscape of the maritime industry. With a solid foundation and a clear vision for growth, Daehan Shipbuilding is set to play a significant role in the future of global shipping.
