Core Insights - K Shipbuilding (formerly STX Shipbuilding) has signed contracts for the construction of 2+1 Aframax tankers and 2 MR product tankers, totaling 460 billion KRW (approximately 315 million USD, 2.23 billion RMB) [2] - The new vessels will comply with the International Maritime Organization's (IMO) Energy Efficiency Design Index (EEDI) Phase 3 requirements, featuring improved propulsion efficiency by approximately 2.4% [3] - K Shipbuilding has secured a total of 15 new ship orders this year, amounting to about 1.28 trillion KRW (approximately 877 million USD, 6.2 billion RMB) [2][3] Financial Performance - In the first three quarters of the year, K Shipbuilding achieved revenue of 899.7 billion KRW (approximately 616 million USD, 4.37 billion RMB), reaching 96.26% of last year's total [3] - The company reported an operating profit of 84.7 billion KRW (approximately 58 million USD, 410 million RMB), which is 763% of last year's figure [3] - For 2024, K Shipbuilding expects to achieve revenue of 934.7 billion KRW (approximately 689 million USD, 4.9 billion RMB), a year-on-year increase of 32% [4] Recovery and Growth - K Shipbuilding successfully turned a profit in 2024 after experiencing losses in previous years, indicating a return to a growth trajectory [5] - The company was acquired by a consortium in 2021 and has been working towards operational normalization since then, having previously reported significant losses [5] - KHI, a private equity fund, is in the process of selling its 49% stake in K Shipbuilding to UAMCO, which plans to bundle this with its existing shares for sale to a major domestic shipbuilding company [5]