NH Investment & Securities Forecasts Increased Orders for Korean Shipbuilders in 2025
NH Investment & Securities forecasts that Korean shipbuilders will experience a rise in orders in 2025, exceeding last year's $22.8 billion, driven by a resurgence in gas carrier demand. HD Korea Shipbuilding & Offshore Engineering aims for a target of $26.8 billion, highlighting cooperation with foreign firms and the growth of LNG carrier prices as key factors. The anticipated resumption of the Mozambique LNG project and expansions in the Philippines and Vietnam are expected to further bolster order values.
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NH Investment & Securities predicts that Korean shipbuilders will see an increase in orders in 2025, surpassing last year's $22.8 billion due to a resurgence in gas carrier orders. HD Korea Shipbuilding & Offshore Engineering has set a target of $26.8 billion, a 17.5% increase.
The firm highlights the importance of cooperation with foreign shipbuilders, rising LNG carrier prices, and naval ship orders as factors influencing share prices. Global commercial ship orders are expected to reach about 90 million tons, suggesting further growth for Korean shipbuilders.
Special-purpose ships, including naval exports, may also see expanded opportunities. Factors such as the resumption of the Mozambique LNG project and new LNG projects are anticipated to drive demand and prices. Additionally, HD Hyundai Heavy Industries' collaboration with Huntington Ingalls could mark a significant milestone, with planned expansions in the Philippines and Vietnam potentially increasing order values by 2027.
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