Once relegated to supplying blocks to Daewoo Shipbuilding & Marine Engineering (DSME) after it was put under a debt workout in 2009, Daehan, located in Haenam, South Jeolla Province, has since ascended to global dominance in the Aframax tanker market – mid-sized vessels capable of carrying 600,000 to 800,000 barrels of oil.With a 12.6% market share, Daehan now boasts the world’s highest technical capacity in that segment.
Daehan said it saw a tripling of inquiries for container ships, including an imminent contract for four 9,000 TEU vessels – the largest order in its history.“Once neglected in the shadows of the shipbuilding titans, the mid-tier players now stand at the forefront of the upcoming supercycle,” said an industry executive.
An initial public offering planned for later this year will provide fresh capital for both yard expansion and R&D into new ship types.“We no longer see ourselves as mid-sized,” said a senior company executive.“In our segment, we are the benchmark.”K SHIPBUILDING: FOCUS ON NEXT-GENERATION TANKERK Shipbuilding, the reborn STX Offshore & Shipbuilding, has also found its formula for survival and success.
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