DH Shipbuilding has secured an order for two Suezmax crude oil tankers from an Oceania-based shipping company.
The contract is worth KRW282.8 billion in total.
Each vessel is valued at KRW141.4 billion, making them the highest-priced ships ordered by the company this year.
The latest deal adds to DH Shipbuilding’s growing orderbook after the yard exceeded its annual target during the first quarter.
The customer first signed with DH Shipbuilding last year.
Since then, the shipowner has steadily increased orders.
It ordered one vessel in September, one in November, two in February, two in March and two more in May.
Strong tanker demand continues to support new orders.
Geopolitical risks and tighter vessel supply have increased the need for tanker capacity.
At the same time, shipping companies continue replacing older ships with newer and more environmentally efficient vessels.
Industry observers said shipowners are rushing to secure shipyard slots early.
DH Shipbuilding has already filled construction capacity through the end of 2029.
However, the company created additional availability for 2028 by improving productivity and shortening construction lead times.
As a result, the new tankers will be delivered in November and December 2028.
“Our productivity improved greatly because we continuously build Suezmax ships,” said Sam-dong Wang, CEO of DH Shipbuilding’s business division.
He said accumulated experience allowed the company to shorten construction cycles and secure higher-margin contracts.
The new contracts strengthen DH Shipbuilding’s growth outlook.
The company reported first-quarter revenue of KRW308.3 billion and operating profit of KRW82.6 billion.
Its operating margin reached 26.8%.
Including the latest agreement, DH Shipbuilding has secured orders for 15 ships so far this year.
The company said the latest wins reinforce its position in the global Suezmax construction market.
