On July 27, South Korean mid-sized shipbuilder DH Shipbuilding (formerly Daehan Shipbuilding) announced a contract with a European shipowner to build two Suezmax tankers. The total value of the order is 271.3 billion won (approximately $185 million); based on this figure, the cost per vessel is approximately $92.5 million, and delivery is expected in December 2029.
With the addition of these new orders, DH Shipbuilding has secured contracts for a total of 17 new vessels—all Suezmax tankers—valued at approximately $1.73 billion so far this year. This order value is 1.6 times the company’s annual target of $1.03 billion, marking a record high since its inception.
To date, DH Shipbuilding holds a total orderbook of 36 vessels valued at approximately $3.69 billion, with delivery schedules extending through the end of 2029.
A representative from DH Shipbuilding stated: “Driven by high vessel prices, DH Shipbuilding has achieved growth in both order volume and profitability. Backed by a solid order backlog, the company expects to maintain stable revenue levels in the coming years.”