“选择性接单”策略奏效！三大造船巨头步入赚钱超级周期

Core Viewpoint - The South Korean shipbuilding industry, led by major companies HD Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean, is expected to enter a "super profit cycle" by 2026, with significant increases in operating profits forecasted for 2023 and beyond [2][3][5]. Group 1: Financial Performance Predictions - The three major shipbuilders are projected to achieve a combined operating profit of 66,091 billion KRW (approximately 4.5 billion USD) in 2023, a 45% increase from the 45,613 billion KRW forecast for 2025 [2]. - HD Hyundai Heavy Industries is expected to reach an operating profit of 30 trillion KRW (approximately 20.4 billion USD) in 2023, marking a return to the "3 trillion KRW club" for the first time since 2010 [2]. - Samsung Heavy Industries is forecasted to achieve an operating profit of 14,424 billion KRW (approximately 9.8 billion USD) in 2023, reflecting a 66% year-on-year increase [5][6]. Group 2: Market Confidence and Order Targets - HD Hyundai Heavy Industries has set an ambitious order target of 17.745 billion USD for 2023, a substantial 82% increase from the previous year's target, indicating strong confidence in the "super cycle" [5]. - Samsung Heavy Industries and Hanwha Ocean are also expected to see significant profit increases, with Hanwha Ocean projected to achieve an operating profit of 17,776 billion KRW (approximately 12 billion USD), a 35% increase year-on-year [8][9]. - The three companies are focusing on selectively accepting high-value ship orders, which is expected to reflect positively in their financial performance starting this year [9][10]. Group 3: Future Market Trends - The demand for LNG carriers is anticipated to be a core area for South Korean shipbuilders in 2026, driven by increasing LNG project activations in the U.S. and rising global demand [12]. - Predictions indicate that global LNG ship orders could reach 115 vessels in 2026, marking a significant recovery in the market [12]. - The South Korean shipbuilding industry is well-positioned to benefit from the expected increase in LNG ship orders, as it is one of the few countries capable of constructing high-value LNG vessels [12].