Daehan Shipbuilding

What Daehan Shipbuilding does

Daehan Shipbuilding (대한조선주식회사) is a South Korean mid-tier shipbuilder founded in 1987 and headquartered in Haenam, Jeollanam-do. The company designs and constructs medium-sized commercial vessels, with a core focus on Suezmax and Aframax-class crude oil tankers, where it holds world No. 1 market share in Aframax construction and captured 62% of global Suezmax newbuilding orders in early 2026. Its portfolio also includes product carriers, shuttle tankers for offshore oil operations, 1,000–8,800 TEU container ships, and a newly certified 88K VLGC gas carrier design; the technical backbone combines in-house block fabrication (276,000 tons/year) with a suite of eco-fuel technologies (LNG, methanol, and ammonia dual-fuel propulsion, scrubbers, PALS, OCCS, battery auxiliary systems, and wind shields) certified by Lloyd's Register, DNV, ABS, and the Korean Register.

Revenue is generated primarily through individually negotiated, multi-year shipbuilding contracts with global enterprise shipping companies, with pricing commanding a $10M+ premium over Chinese yards (e.g., Suezmax at ~KRW 1,414 billion per vessel). The go-to-market is direct enterprise sales led by Chairman Kim Kwang-ho and a co-CEO structure, anchored by repeat orders from Greek and Belgian tanker operators (ATLAS Maritime, Euronav, Okeanis, NEDA, Tsakos), U.S.-listed Nordic American Tankers, and energy major Petrobras for shuttle tankers. A secondary MRO revenue stream is being developed through pursuit of U.S. Navy Master Ship Repair Agreement (MSRA) certification, supported by a KRW 99 billion government program.

The company is majority-owned by KHI (Korea Holdings Investment, 95% since September 2022), completed its KOSPI IPO in August 2025, and operates with a zero-debt balance sheet. Cumulative vessel deliveries reached 161 as of May 2026, and the order backlog of 35 vessels provides approximately three years of revenue visibility through end-2029.

Name

Daehan Shipbuilding

Legal name

대한조선주식회사

Website

https://daehanship.com

Company type

Public

Founded year

1987

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Daehan Shipbuilding is a South Korean mid-tier shipbuilder specializing in medium-sized vessels, dominating global Suezmax and Aframax crude oil tanker newbuildings and serving enterprise shipping companies and energy majors worldwide.

Ownership category

akta.pro rank

Product category

Commercial Shipbuilding

NAICS

Ship Building and Repairing (336611)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Crude & Product Tanker Shipbuilding (VLCC/Suezmax/Aframax/MR) (IMAJAAAC)

akta.pro secondary industries

Bulk Carrier Shipbuilding (Dry Bulk: Capesize/Panamax/Handysize) (IMAJAAAA), Chemical Tanker Shipbuilding (IMAJAAAF), Specialized Cargo Vessels (Cement/Asphalt/Woodchip/Live-Animal) Shipbuilding (IMAJAAAL)

Keywords

• Commercial shipbuilding
• Crude oil tankers
• Container vessels
• Eco-friendly propulsion
• Naval ship MRO

Headquarters

HQ city

Haenam

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Infrastructure

Revenue model

1. Shipbuilding Contracts: Daehan Shipbuilding generates revenue primarily through contracts to build and deliver vessels (oil tankers, product carriers, shuttle tankers, container ships, bulk carriers). The shipbuilding industry uses a heavy-tail payment structure where over 60% of the contract value is received upon vessel delivery, with the remainder paid in installments at construction milestones.
2. Naval Ship MRO (Maintenance, Repair & Overhaul): The company is pursuing entry into the U.S. Navy ship maintenance, repair, and overhaul (MRO) market through MSRA (Master Ship Repair Agreement) certification, targeting stable long-term revenue from naval vessel maintenance services.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Daehan Shipbuilding designs and constructs medium-sized commercial vessels — primarily Suezmax/Aframax crude oil tankers, product carriers, shuttle tankers, container ships (1,000–8,800 TEU), bulk carriers, and an emerging 88K VLGC gas carrier line — under direct contracts with global shipowners. Deliveries include integrated eco-friendly propulsion systems (LNG/methanol/ammonia dual-fuel, scrubbers, OCCS, PALS, battery assist, wind shield) certified for IMO Tier III and EEDI Phase 3 compliance.

Product overview

Daehan Shipbuilding is a mid-tier South Korean shipbuilder specializing in medium-sized vessels, operating as a platform of ship types with core products in tanker (crude oil, product carriers, shuttle tankers) and container segments, expanded into gas carriers. The company offers a comprehensive portfolio including Suezmax/Aframax crude oil tankers (world No. 1 market share), product carriers, shuttle tankers, container carriers (1,000-8,800TEU), and bulk carriers, supplemented by eco-friendly technologies (LNG/methanol/ammonia dual-fuel, battery auxiliary systems, wind shields, PALS, OCCS, scrubbers). The company has diversified into MRO services and operates a technical training institute for workforce development.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil Tanker (Suezmax/Aframax) Crude oil carriers with LNG fuel propulsion (LFS) technology meeting IMO environmental regulations. Daehan holds world No. 1 market share in Aframax crude oil carrier construction and was designated a World-Class Product by the Korean Ministry of Trade, Industry and Energy for 2020-21. Customers include Euronav, ATLAS Maritime, Okeanis Eco Tankers, Nordic American Tankers, and Tsakos.
• Product Carrier Petroleum product carriers meeting IMO environmental regulations with high efficiency and eco-friendly features, recognized as a World-Class Product. Customers include NEDA Maritime for 115,000 DWT product carriers.
• Shuttle Tanker Specialized high-value vessels for offshore oil fields, with advanced dynamic positioning systems, automatic berthing, and cargo loading devices for stable crude oil transfer from FPSO/FSO units in harsh sea conditions. Customers include Petrobras (3 vessels from November 2026) and Tsakos Group. Recognized as a World-Class Product in 2024.
• Container Carrier (1,000 TEU and 8,000 TEU)

Quantifiable outcome

• World No. 1 market share in Aframax crude oil carrier construction (2020-2021 world-class product designation)
• +5 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Lloyd's Register (LR)coreTechnology or Integration · 1 June 2026Lloyd's Register signed multiple JDPs with Daehan Shipbuilding at Posidonia 2026: (1) 185,000 cubic meter LNG carrier with hybrid electric propulsion; (2) 88K VLGC AIP certification; (3) Passive Air Lubrication System (PALS) with Armada; (4) Ammonia dual-fuel Suezmax JDP with Samsung Heavy Industries. LR also granted Approvals in Principle to Daehan for specialized vessel designs.
• HD Hyundai Group (SK Shipping, HD Hyundai Samho)coreStrategic or Co-development Partner · 1 June 2026Lloyd's Register signed JDPs with HD Hyundai Group entities including SK Shipping and HD Hyundai Samho, in which Daehan Shipbuilding also participated, for semi-autonomous vessel concepts and specialized vessel designs. Daehan holds an Approval in Principle from LR alongside HD Hyundai Samho.
• Armada (UK)coreTechnology or Integration · 1 June 2026Daehan signed a JDP with UK green technology company Armada and Lloyd's Register for placement review of the passive air lubrication system (PALS) on VLGC vessels. Armada's compressor-free passive system improves fuel efficiency and reduces GHG emissions without requiring compressor equipment.
• DNV (Norway)coreTechnology or Integration · 1 June 2026DNV (Norwegian classification society) partnered with Daehan and Chinese company SETH on a battery assist system JDP for fuel efficiency and carbon emission reduction. Daehan previously obtained methanol dual-fuel AIP (2023) and ammonia dual-fuel AIP (January 2025) from DNV.
• ABS (American Bureau of Shipping)coreTechnology or Integration · 1 June 2026ABS partnered with Daehan and Mokpo National University on a container ship wind shield JDP. ABS previously certified Daehan's 7,700TEU methanol dual-fuel container ship concept design in August 2023.
• Mokpo National University (국립목포대학교)coreStrategic or Co-development Partner · 1 June 2026Daehan partnered with Mokpo National University and ABS on a container ship wind shield JDP. Daehan also collaborates with Mokpo National University on ammonia fuel safety design validation and maritime cable technology research center, as well as methanol fuel tank technology verification.
• SETH (China)coreTechnology or Integration · 1 June 2026Chinese eco-friendly solutions company SETH partnered with Daehan and DNV on a battery assist system JDP. The battery energy storage system stores excess power generated during vessel operation for use during peak demand, reducing fuel consumption and carbon emissions.
• Korean Register (KR, 한국선급)coreTechnology or Integration · 1 June 2026Korean Register (KR) jointly certified Daehan's 88K VLGC concept design alongside Lloyd's Register at Posidonia 2026. Daehan previously obtained ammonia dual-fuel AIP for Aframax crude oil carrier from KR in 2022.
• Pan Asia (파나시아)coreTechnology or Integration · 1 January 2025Pan Asia developed fuel supply systems for Daehan's ammonia dual-fuel propulsion vessels, in collaboration with DNV. Pan Asia's technology was certified alongside Daehan's vessel design. Daehan also collaborated with Pan Asia on onboard carbon capture and storage (OCCS) technology for Suezmax vessels.
• Samsung Heavy IndustriesminorStrategic or Co-development Partner · 1 January 2025Samsung Heavy Industries collaborated with Daehan and Lloyd's Register on ammonia dual-fuel Suezmax vessel development using Samsung's SAVER Air air lubrication system (ALS), achieving approximately 4% fuel efficiency improvement.
• Andriaki ShippingminorStrategic or Co-development Partner · 1 January 2025Andriaki Shipping partnered with Lloyd's Register for ESG reporting aligned with GRI and SASB standards. This is a JDP initiated through LR's Posidonia 2026 initiatives involving shipbuilders.
• Korea National Park Service (국립공원공단)minorOthers · 1 March 2023Daehan signed a marine environmental conservation and volunteer service MOU with the Korea National Park Service, adopting Jindongri's 'Pet Beach' for quarterly cleanup activities as part of environmental CSR.
• Korea Disabled Workers Association (한국장애인고용공단)minorOthers · 1 January 2022Daehan signed an agreement to establish a subsidiary-type standard workplace for disabled persons, the first such initiative in Korea's shipbuilding industry, aimed at creating quality jobs for disabled workers and promoting inclusive employment.
• U.S. Navy / Defense Acquisition Program Administration (방위사업청)coreOthersDaehan was selected for the Korean government's MSRA (Master Ship Repair Agreement) certification support program in June 2026, jointly run by the Defense Acquisition Program Administration, Gyeongsangnam-do, and Busan/Ulsan/Jeonnam. This 5-year program (2026-2030) with KRW 990 billion in government investment aims to help Daehan obtain MSRA and CMMC certifications to enter the U.S. Navy MRO market.

Scale indicators15 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• HD Hyundai Heavy Industries: Largest Korean shipbuilder, building tankers, container ships, LNG carriers, and offshore vessels across the full size range. Overlaps directly with Daehan in crude/product tanker and container segments but competes across a much broader portfolio including VLCCs and naval vessels.
• Samsung Heavy Industries: Korean shipbuilder with whom Daehan has active JDPs (ammonia dual-fuel Suezmax with SAVER Air). SHI operates at larger scale including LNG carriers, drillships, and offshore platforms but competes in the same mid-large tanker and container ship markets.
• Hanwha Ocean: Korean shipbuilder (formerly DSME) active in tankers, LNG carriers, container ships, and offshore. Competes with Daehan for global mid-sized vessel orders and brings similar scale to the shipbuilding segment, including naval shipbuilding.
• Hanwha Ocean Shipbuilding (Hanwha Vic) / Hyundai Samho: Mid-to-large Korean shipbuilder with strong Suezmax/Aframax tanker and LNG carrier overlap with Daehan. Forms part of the same small group of premium Korean mid-tier shipbuilders competing for global tanker orders.
• Imabari Shipbuilding: Largest Japanese shipbuilder, dominant in bulk carriers and growing in tankers. Operates high-volume newbuilding facilities and competes with Daehan in the global mid-sized tanker and container ship markets, including partnerships with Chinese yards.
• Mitsui E&S Shipbuilding: Japanese shipbuilder producing LNG carriers, tankers, and offshore vessels. Overlaps with Daehan in the mid-sized tanker and gas carrier segments while bringing engineering depth in LNG propulsion and a strong Japanese customer base.
• CSSC Hudong-Zhonghua Shipbuilding: Leading Chinese state-owned shipbuilder and dominant global LNG carrier builder. Competes with Daehan in larger vessel categories and represents the principal price-driven competitive threat Korean mid-tier builders face.

Direct peers

• K Shipbuilding: Sister company of Daehan under the same KHI (Korea Holdings Investment) parent. Mid-sized Korean shipbuilder building tankers and bulk carriers for global customers, with similar product portfolio and Korean mid-tier competitive positioning. The shared parent and overlapping customer base create both strategic alignment and competitive overlap.
• Tsuneishi Heavy Industries: Japanese mid-sized shipbuilder (Tsuneishi C-FREE/KR series) specializing in bulk carriers with growing exposure to tankers. Comparable mid-tier positioning and similar focus on fuel-efficient and eco-friendly vessels through partnerships with classification societies.
• Oshima Shipbuilding: Mid-sized Japanese shipbuilder focused on bulk carriers and mid-range tankers. Comparable mid-tier position with Daehan in the global mid-sized vessel market, with strong quality reputation serving similar international shipping companies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@DHshipbuilding
• Instagraminstagram.com/daehanship_official

Compliance14 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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Frequently asked questions about Daehan Shipbuilding