The Memorandum of Understanding (MOU) between the two companies builds on a relationship which dates back to 2004.
The comprehensive new agreement covers areas such shared focus on opportunities within the global gas shipping market, as well as with research into alternative vessel fuels, such as liquefied hydrogen.
Thomas Wilhelmsen, ceo of the Wilhelmsen group said: “We have always been interested in leveraging potential synergies between the two companies, but it’s our shared focus on developing hydrogen as a fuel for the future that has acted as the real catalyst. Starting an in-depth discussion, which has unlocked a number of areas where we can share competence, expertise and ambition, this framework agreement is just the beginning”.
Jung-Hoon Kim, ceo from Hyundai Glovis said: “This MOU that we are signing today will leverage on each company's strengths to maximize synergies and provide competitive options for both companies to respond rapidly growing global gas demands and tightened environmental regulations."
In its plans to grow in the gas shipping Hyundai Glovis will be able to leverage on Wilhelmsen Ship Management’s expertise in managing both LNG and LPG vessels.
Copyright © 2020. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.