Hyundai Glovis Partners with Major European Shipping Company for 'Future Eco-Friendly Shipping Business'

Eco-friendly Energy 'LNG·Hydrogen' SCM (Integrated Management of Product Production and Distribution) Business Expansion
Glovis 'Fleet Operation' and Wilhelmsen 'Ship Management' Synergy Expected

[Asia Economy Reporter Kim Hyewon] Hyundai Glovis is seeking opportunities in the eco-friendly shipping business by partnering with a leading European shipping company. They plan to jointly pursue future shipping businesses such as entering the gas maritime transportation sector and operating hydrogen vessels.

Hyundai Glovis announced on the 3rd that it has signed a "Gas Carrier and Shipping Environment Change Joint Response Memorandum of Understanding (MOU)" with Wilh. Wilhelmsen, a shipping group headquartered in Norway.

Founded in 1861, Wilh. Wilhelmsen is one of Europe's leading shipping groups operating ship management, onboard supplies, and other businesses at over 2,000 locations worldwide. It is globally recognized as a top-tier company in ship management, including ship repair, safety management, and crew training.

This MOU is aimed at responding quickly and proactively to the global shipping industry's recent trend toward eco-friendly energy transition. The core is to maximize business effectiveness by leveraging the strengths of Hyundai Glovis and Wilh. Wilhelmsen in their respective fields.

The signing ceremony was held with the attendance of Kim Jeonghun, CEO of Hyundai Glovis, Thomas Wilhelmsen, CEO of Wilh. Wilhelmsen Group, and other officials. Considering the difficulties of mutual country visits due to the COVID-19 pandemic, the ceremony was conducted via video conference between the headquarters of both companies in Korea and Norway.

Kim Jung-hoon, CEO of Hyundai Glovis (left), and Thomas Wilhelmsen, CEO of Wilhelmsen Group, are posing for a commemorative photo after signing on a tablet PC at the business agreement ceremony for 'Joint Response to Changes in Gas Carriers and Shipping Environment' on the 2nd (Korean time).

The main contents of the agreement include ▲ joint entry into the gas maritime transportation market ▲ joint response to the future hydrogen shipping market.

According to the agreement, Hyundai Glovis and Wilh. Wilhelmsen will jointly promote the liquefied natural gas (LNG) maritime transportation business. LNG maritime transportation requires meticulous navigation management and crew training due to higher risks such as explosions compared to other bulk cargo. The combination of Hyundai Glovis's fleet operation capabilities and Wilh. Wilhelmsen's ship management expertise is expected to create synergy in the future gas maritime transportation business.

Furthermore, both companies agreed to promptly establish a hydrogen ecosystem in the shipping market in preparation for the upcoming hydrogen economy era. Various measures such as operating eco-friendly hydrogen vessels and hydrogen maritime transportation businesses will be discussed step by step.

Accordingly, Hyundai Glovis's establishment of a hydrogen logistics system is expected to accelerate. In July, Hyundai Glovis joined the "Hydrogen Logistics Alliance" launched by the Ministry of Land, Infrastructure and Transport to discover policies promoting the use of hydrogen energy in the logistics industry. Prior to this, in June, Hyundai Glovis signed an MOU with the Ministry of Trade, Industry and Energy and related organizations to create a supply chain for importing clean hydrogen from overseas.

Hyundai Glovis plans to build a hydrogen supply system to carry out SCM (Supply Chain Management) business that manages hydrogen production, storage, transportation, and distribution as an integrated network.

A Hyundai Glovis official said, "The two companies have joined hands to respond to the rapidly increasing LNG demand and increasingly stringent environmental policies," adding, "Hyundai Glovis and Wilh. Wilhelmsen will strive to create the best synergy in future eco-friendly shipping businesses based on each company's competitiveness."

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