Name: AI Data Centers Meet Shipbuilding… The Biggest Beneficiary Is ‘Right Here’ / Shipbuilding Supercycle Continues Until 2030 | Eom Gyeong-a, Research Fellow
Uploaded: 2026-05-22T07:30:03+00:00
Duration: 1235 s

Speakers

Eom Kyeong-ah — Research Fellow

Summary

Eom Gyeong-a, a Research Fellow at ShinYoung Securities, argues that the shipbuilding supercycle is sustainable through 2030 due to supply constraints and the early stage of green vessel replacement. She highlights that ship engine manufacturers have greater expansion potential than shipbuilders because they also serve the new onshore power demand from AI data centers. HD Hyundai Heavy Industries is the top pick among shipbuilders, while Samsung Heavy Industries has a promising floating data center opportunity that could materialize next year.

Shipbuilding supercycle likely to continue through 2030.
Limited supply and green vessel replacement support sustained demand.
LNG carrier orders remain steady at 50-70 vessels per year.
Newbuilding prices have resumed upward trend after correction.
Ship engines used for onshore data center power represent a new demand source.
Floating data centers are a potential growth area for Samsung Heavy.
HD Hyundai Heavy Industries is the most diversified and preferred shipbuilder.
Engine manufacturers may offer more expansion potential than shipbuilders.

Trade Ideas

Eom Kyeong-ah Research Fellow 1:15

Shipbuilding supercycle sustainable through 2030.

The shipbuilding supercycle is sustainable through 2030 due to severe supply constraints from industry restructuring and steady demand from the green vessel replacement cycle, which is still in its early stages. Global fleet of ~110,000 vessels, with only ~3,000 alternative-fuel vessels delivered so far, implies a long replacement runway. Newbuilding prices have resumed an upward trend in 2026, encouraging shipowners to order quickly, supporting earnings visibility well into 2030.

Eom Kyeong-ah Research Fellow 13:11

Floating data center opportunity for Samsung Heavy.

Samsung Heavy Industries has a differentiated opportunity in floating data centers. The company has completed concept design approval and is in discussion with potential clients. Given its strong offshore engineering experience and past resilience during the low oil price period, Samsung Heavy is well-positioned to secure initial contracts. Revenue contribution may materialize from next year.

Eom Kyeong-ah Research Fellow 17:53

HD Hyundai is safest shipbuilder pick.

HD Hyundai Heavy Industries is the top pick among Korean shipbuilders because it is the most comprehensive player, active across all segments (commercial ships, engines, defense, offshore) and has the largest dry dock capacity in Ulsan. It is the only shipbuilder that makes engines internally, giving it a unique advantage. When asked for a single pick, the analyst states HD Hyundai is the easiest answer.

Eom Kyeong-ah Research Fellow 18:22

Engine stocks have greater expansion potential.

Korean ship engine manufacturers have greater expansion potential than shipbuilders because they benefit from both global shipbuilding growth (including foreign shipyards) and the new onshore power generation demand from AI data centers. Engine stocks have already outperformed shipbuilders since the pandemic low and may deserve a valuation premium due to this dual demand driver.

This 815 Money Talk (815머니톡) video, published May 22, 2026, features Eom Kyeong-ah discussing Korean shipbuilding sector, 010140.KS, 329180.KS, Korean ship engine manufacturers. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Eom Kyeong-ah · Tickers: Korean shipbuilding sector, 010140.KS, 329180.KS, Korean ship engine manufacturers

AI Data Centers Meet Shipbuilding… The Biggest Beneficiary Is ‘Right Here’ / Shipbuilding Supercycle Continues Until 2030

Summary

Trade Ideas

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