Hyundai Glovis has signed a 15-year liquefied natural gas (LNG) maritime transport contract worth a total of KRW 580 billion with a global trading company. Under this contract, Hyundai Glovis plans to newly construct a 174,000㎥ LNG carrier to transport LNG from the U.S. Gulf Coast to various parts of the world starting in 2029.
The 174,000㎥ of LNG is equivalent to half of South Korea's daily LNG consumption. As international demand for LNG increases to reduce emissions, and advanced facilities are required to maintain an ultra-low temperature of minus 162 degrees Celsius during transport, LNG maritime transport is considered a representative high-value-added business in the shipping industry.
Since 2024, Hyundai Glovis has been deploying one liquefied petroleum gas (LPG) carrier and one LNG carrier for gas transportation. The company plans to add four more LNG carriers by 2027 to transport volumes for clients in the Middle East region. The company stated, "We will continuously expand our fleet to strengthen our competitiveness in maritime energy transport and expand our global client network."
Lee Won-joo
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
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