The stock traded 3.7 percent higher at 137,100 won ($95) as of 10:15 a.m. Thursday in Seoul, after soaring nearly 10 percent the previous day. Hanwha Ocean has gained more than 20 percent so far this month, reflecting investor optimism over robust third-quarter results and sustained global demand for LNG carriers.
The rally accelerated following the company’s strong showing at Seoul ADEX 2025, where it unveiled AI-driven naval technologies, and amid reports that South Korea’s trade envoy urged China to lift sanctions affecting Hanwha Ocean’s U.S. affiliates.
Investor sentiment was further boosted by the government-backed K-Shipbuilding Tech Alliance and expectations of strong quarterly earnings fueled by a steady stream of LNG and special-purpose vessel orders.
The convergence of defense export hopes, policy support, and easing geopolitical pressure has propelled Hanwha Ocean to its highest level in over a year, outpacing most large-cap stocks on the Kospi. The company’s shares have more than tripled from their annual opening of 37,800 won after taking the banner “Make American Shipbuilding Great Again”—the flagship slogan of South Korea’s U.S. investment drive announced during President Lee Jae-myung’s visit to Washington in August.
Hanwha Ocean is set to release its third-quarter earnings on Monday, with analysts projecting an operating profit nearly three times higher than a year earlier.
The frenzy over shipbuilding shares underscores a growing bet on a new seaborne boom.
“Shipbuilding is a cyclical business, typically following 20- to 30-year patterns,” said Lee Eun-chang, senior researcher at the Korea Institute for Industrial Economics and Trade. “The last peak came in 2011. Under ordinary circumstances, the next boom might not arrive until around 2040, but shifts in global energy policy and geopolitics are reshaping the timeline.”
While Korean shipbuilders may not fully regain their dominance over China, Washington’s moves to curb Chinese shipbuilding practices could open fresh opportunities for Korean yards, Lee added.
Eom Kyung-ah, a shipbuilding and shipping industry analyst at Shinyoung Securities, pointed to the growing anticipation ahead of the APEC Summit, noting that U.S.–Korea cooperation in shipbuilding is emerging as a key agenda item—with Hanwha Ocean and Hyundai Heavy Industries positioned as central players.
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