DH Shipbuilding's record-breaking order intake signals a sustained surge in tanker newbuilding demand that will extend the yard's production visibility for another three years.
According to Splash247, the South Korean shipbuilder has booked two more suezmax tanker newbuildings, bringing its total orders this year to a record 17 vessels. The contract, worth KRW271.3 billion ($196 million), covers two 157,000 deadweight tonne (dwt) crude carriers and was placed by an unnamed new European customer. Delivery is scheduled by the end of 2029.
The deal represents about 22% of the yard's 2025 revenue, according to a regulatory filing published on Monday. With this order, DH Shipbuilding has now secured approximately KRW2.25 trillion in new business this year, roughly 1.6 times the yard's annual target.
Orderbook and Segment Focus
The yard's total orderbook now stands at 36 ships, filling its construction schedule at the Haenam-based facility through the end of 2029. DH Shipbuilding has concentrated heavily on the suezmax segment, repeatedly attracting both returning customers and owners placing their first orders at the yard, Splash247 reported.
This latest contract follows a KRW282.8 billion ($204 million) order for two suezmaxes from an Oceania-based owner in May 2025. The consistent flow of suezmax orders has been a key driver of the yard's record intake.
Implications for Tanker Supply
While these vessels will not deliver until late 2029, the growing orderbook indicates a sustained commitment by shipowners to expand crude carrier capacity. For logistics professionals monitoring tanker availability, the record order volume at a major Korean builder suggests that forward ordering could tighten near-term newbuilding slots and may influence secondhand vessel pricing and charter rate expectations.
Watch List
- Additional orders from European or Oceania-based owners that could push DH Shipbuilding's intake further above its annual target.
- Potential orders from unnamed first-time customers that may signal new entrants in the suezmax segment.
- Delivery schedule updates as the yard allocates remaining slots for orders beyond 2029.
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