[Featured Stock] Chosun선재 Hits Upper Limit Early... Most Shipbuilding Stocks on the Rise

[Asia Economy Reporter Minwoo Lee] Domestic shipbuilding companies are showing strong performance in related stocks following the news of winning a large-scale liquefied natural gas (LNG) project in Qatar.

As of 9:49 AM on the 3rd, Samsung Heavy Industries is trading at 6,610 KRW, up 12.22% from the previous day. Daewoo Shipbuilding & Marine Engineering (7.12%) and Korea Shipbuilding & Offshore Engineering (3.98%) are also on the rise.

Shipbuilding-related equipment companies are also strong. Chosun Wire & Cable has hit the upper price limit for two consecutive days, trading at 131,000 KRW. KSP (20.17%) and Oriental Precision (15.70%) are also showing strength.

The news that domestic shipbuilders have secured a large-scale project worth 23 trillion KRW from Qatar appears to have acted as a positive factor. On the 1st, Qatar Petroleum (QP), Qatar's state-owned oil company, announced that it had signed contracts securing LNG shipbuilding slots with Samsung Heavy Industries, Hyundai Heavy Industries, and Daewoo Shipbuilding & Marine Engineering. Since it is common to secure shipbuilding slots before formal orders, a large-scale shipbuilding contract is expected to follow. The scale of this project promoted by QP is known to reach 23.6 trillion KRW.

This content was produced with the assistance of AI translation services.