South Korean mid-sized shipbuilder DH Shipbuilding (formerly Daehan Shipbuilding) announced on June 1 that it had signed a contract on May 29 with an Oceania shipowner to build two Suezmax tankers. The order is worth approximately 282.8 billion won (about US$181 million), with a unit price of about US$90.5 million, marking the shipyard’s highest order price in the Suezmax tanker sector this year.
Under the plan, the two new vessels are expected to be delivered in November and December 2028, respectively. Including this latest order, DH Shipbuilding has undertaken 15 new vessels this year, all of which are Suezmax tankers.
Regarding delivery dates, DH Shipbuilding stated that although it has secured shipbuilding capacity up to the end of 2029, it has freed up additional slots for 2028 by improving production efficiency and shortening the construction period.
A representative from DH Shipbuilding stated, “Through the continuous construction system for Suezmax tankers, the shipyard’s production efficiency has been significantly improved. Thanks to leveraging our long-accumulated shipbuilding experience to shorten production cycles, DH Shipbuilding is able to secure highly profitable shipbuilding orders.”
DH Shipbuilding did not disclose details of the shipowner, only stating that it is a new customer with whom a shipbuilding partnership will be established in 2025, and that with the latest project, it has ordered nine Suezmax tankers from DH Shipbuilding.
In addition to undertaking new ship projects, DH Shipbuilding recently received approval in principle (AiP) from Lloyd’s Register (LR) and KR for its 88,000 cubic meter Very Large Gas Carrier (VLGC) concept design.
DH Shipbuilding stated that the certification of this 88,000 cubic meter VLGC signifies that the shipyard’s product portfolio, primarily consisting of medium and large oil tankers and container ships, has further expanded into the gas carrier sector. This vessel type aligns with global environmental regulations and has been optimized in terms of cargo capacity and navigation efficiency, representing a new generation of ship design.
To expand its presence in the environmentally friendly shipbuilding market, DH Shipbuilding is concretizing its technological cooperation, having signed a joint development project (JDP) agreement with Armada, a British environmental technology company, and Lloyd’s Register. The parties plan to conduct research on the application of “Passive Air Lubrication System (PALS)” and begin to promote technological upgrades.
This system is an energy-saving technology that reduces frictional drag with seawater by injecting bubbles into the bottom of the ship. Armada’s passive system operates without an additional compressor, offers higher fuel efficiency compared to existing processes, and significantly reduces greenhouse gas emissions.
A representative from DH Shipbuilding stated, “This design certification and environmental technology cooperation will be an important opportunity to adapt to market trends and diversify our technology portfolio. The company will continue to collaborate with global partners to lead the future environmentally friendly shipbuilding market.”