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Hyundai Glovis partners with Norwegian firm for eco-friendly shipping business

Hyundai Glovis President Kim Jung-hoon (left) and Wilh. Wilhelmsen Holding ASA CEO Thomas Wilhelmsen pose for photos after signing a business agreement Wednesday. The event was held via videoconference due to the coronavirus. (Hyundai Glovis)
Hyundai Glovis President Kim Jung-hoon (left) and Wilh. Wilhelmsen Holding ASA CEO Thomas Wilhelmsen pose for photos after signing a business agreement Wednesday. The event was held via videoconference due to the coronavirus. (Hyundai Glovis)
Hyundai Glovis said Thursday it has partnered with Norwegian-based shipping group Wilh. Wilhelmsen Holding ASA to proactively respond to changes in the future shipping industry.

The two firms signed a memorandum of understanding on coping with changes in gas carriers and the shipping environment.

The Korean logistics firm said synergy is expected in future shipping businesses, such as entering the gas marine transportation industry and operating hydrogen ships.

Under the agreement, the two companies will jointly carry out liquefied natural gas maritime transportation business.

LNG sea transportation is a field that requires detailed operation management and crew training due to its high risk of explosion compared to other bulk cargo. The combination of Hyundai Glovis’ fleet operation capability and Wilh. Wilhelmsen’s ship management know-how is expected to create synergy in the business, Hyundai Glovis said.

Founded in 1861, Wilh. Wilhelmsen is a leading shipping group in Europe that is headquartered in Lysaker, Norway. It operates in ship management and the supply of ship goods with more than 2,000 branches around the world.

By Shin Ji-hye (shinjh@heraldcorp.com)

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