Daehan Shipbuilding said on Feb. 9 it won an additional order for two Suezmax crude oil carriers from a Marshall Islands-based shipping company.

After signing contracts for four ships in mid-January and two at the end of January, it secured additional volume in two weeks, extending its order momentum. With this, Daehan Shipbuilding has recorded orders for a total of eight Suezmax-class vessels this year, accounting for about 62% of the 13 vessels ordered worldwide.
The Suezmax class is the largest size of ship that can pass through the Suez Canal when fully laden with crude oil and other cargo.

The shipping company that signed this contract first signed a construction deal with Daehan Shipbuilding in November last year and confirmed a repeat order three months after the first contract.

The order is worth about 129 billion won per ship. The company said this exceeds the recent market average price for comparable vessels, indicating that Daehan Shipbuilding’s construction capabilities are being recognized in the market.

The two vessels ordered this time are scheduled for delivery in August and December 2028, respectively.

The order target is also being reached quickly. As of this month, Daehan Shipbuilding’s cumulative orders this year total about 1.02 trillion won, securing 70% of its annual order target.
Source: ChosunBiz