대한조선주식회사

• DH Shipbuilding wins order for 2 Suezmax crude oil tankers... worth 282.8 billion KRW in total

• Faster construction creates extra slots in 2028… secures 15 ships in the first half of the year alone

DH Shipbuilding, which already passed its annual order goal in just the first quarter, continues to win more orders in the second quarter.

DH Shipbuilding announced on the 29th that it won an order for two Suezmax crude oil tankers from a shipping company in Oceania. This contract is worth about 141.4 billion KRW per ship (282.8 billion KRW in total), which is the highest price among the ships DH Shipbuilding received orders for this year.

The shipping company is a new customer that signed its first contract with DH Shipbuilding last year. Even before receiving their first ship, they started ordering more: 1 ship last September, 1 in November, 2 in February this year, 2 in March, and now 2 more in May.

Recently, due to geopolitical risks, there is a shortage of tankers, and the demand to replace old ships with eco-friendly ones is growing. Because of this, global shipping companies feel they "must secure DH Shipbuilding's docks (construction space) early." Experts analyze that this rush to get docks is leading to actual orders.

Currently, DH Shipbuilding has already secured construction work until the end of 2029. However, the delivery dates for these new ships were pushed forward to November and December 2028 because the company shortened the construction time (lead time). DH Shipbuilding created extra slots for 2028 by improving productivity.

Sam-dong Wang, the CEO of DH Shipbuilding's business division, explained, "Our productivity improved greatly because we continuously build Suezmax ships. Thanks to cutting down the construction cycle with our accumulated skills, we could secure highly profitable orders."

This success is expected to speed up the company's future growth. Through a public disclosure on the 15th, DH Shipbuilding proved its strong financial health by recording an operating profit margin of 26.8% (sales of 308.3 billion KRW, operating profit of 82.6 billion KRW) in the first quarter of this year. The industry expects that since the number of ships built per year has increased due to this order, future sales and operating profits will grow even bigger.

Meanwhile, including this order, DH Shipbuilding has recorded a cumulative total of 15 ships this year, making its position as the 'global strongest leader in Suezmax construction' even stronger. The ships contracted this time will be delivered to the owner one by one starting from November 2028.