Korean Shipbuilding Renaissance: HD Hyundai and the LNG Carrier Boom
Korean shipbuilders have a 3-year order backlog. HD Hyundai leads the global LNG carrier market.
Korean shipbuilders are experiencing their strongest cycle in over a decade. HD Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean collectively hold 60%+ of the global high-value vessel order book.
The primary driver is LNG carriers. The global energy transition paradoxically requires more LNG ships as countries switch from coal to natural gas as a bridge fuel. Korean yards dominate this segment due to their proprietary membrane tank technology and construction expertise.
HD Hyundai Heavy Industries leads with a 3-year order backlog worth $45 billion. The company has pricing power for the first time in years, with newbuild prices up 30-40% from the 2020 trough.
Beyond LNG, Korean yards are positioning for the next wave: ammonia-powered vessels, autonomous ships, and floating offshore wind platforms.
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This analysis is auto-generated by AI combining investment bank reports, earnings data, market data, and news sentiment. Not investment advice.
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