External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

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Thematic (Sector/Industry)

<ul><li>We maintain our Overweight stance on shipbuilding. New naval vessel and LNG carrier orders could lead to a prolonged earnings up-cycle, and profit growth in the commercial vessel segment should continue.</li><li>2026 outlook: With over 1,000 naval vessels estimated to require replacement, naval vessel exports are expected to begin in earnest in 2026-27.</li><li>In addition, the US is likely to place orders for 50-100 LNG carriers; for FID-approved projects alone, LNG carrier demand totals 117 units. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We maintain our Overweight stance on shipbuilding. New naval vessel and LNG carrier orders could lead to a prolonged earnings up-cycle, and profit growth in the commercial vessel segment should continue.2026 outlook: With over 1,000 naval vessels estimated to require replacement, naval vessel exports are expected to begin in earnest in 2026-27.In addition, the US is likely to place orders for 50-100 LNG carriers; for FID-approved projects alone, LNG carrier demand totals 117 units. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

[2026 Outlook] Defense/ShipbuildingAnother inflection point

South Korea

HD Hyundai Heavy Industries Co., Ltd. operates as a shipbuilding company. The Company provides naval shipbuilding, industrial shipbuilding, crude oil tanker, bulk carrier, container carrier, and other related services. HD Hyundai Heavy Industries also offers offshore and engineering, engine and machinery, offshore, industrial, and marine plant services.

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HD Hyundai Heavy Industries (329180 KS)

[2026 Outlook] Defense/ShipbuildingAnother inflection point

New naval vessel and LNG carrier orders could lead to a prolonged earnings up-cycle, and profit growth in the commercial vessel segment should...

Mirae Asset Securities

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