Rebranded South Korean shipyard seals newbuild orders from Euronav and Atlas Maritime

South Korean yard DH Shipbuilding, formerly Daehan Shipbuilding, has recently welcomed two European owners, each placing orders for a pair of tankers.

Belgium-based tanker giant Euronav has booked two scrubber-fitted suezmaxes for delivery in the third and fourth quarters of 2024. Financial details have not been disclosed for 157,000 dwt ships, although industry sources are reporting newbuilding price tags of around $80m for this class.

Meanwhile, the shipyard’s regular customer, Atlas Maritime of Greece, has ordered two 115,000 dwt aframaxes. The pair will deliver in 2025, with three similar ships already under construction at the yard and set to deliver in 2023. Aframax newbuildings reached $61 million in October, up from $48 million at the end of 2019.

Year to date, 57 tanker orders have been reported, compared to around 200 in 2022.

DH Shipbuilding was taken over by private equity firm KH Investment earlier this year, also the owner of compatriot yard K Shipbuilding, formerly known as STX Offshore & Shipbuilding.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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