[조선 매크로 점검] 중동 반사이익 한화오션, ‘조선·방산’ 수혜 기대

Middle East geopolitical tensions are redirecting global shipping routes, accelerating crude tanker (VLCC) orders that directly benefit Hanwha Ocean, the world's leading builder with 20% market share. Expanding naval defense contracts (submarines) and offshore energy infrastructure demand (FPSO) projects diversify growth drivers, with order backlog reaching record 34.5 trillion won. However, potential Qatar LNG delivery delays and escalating raw material costs present near-term execution risks.