This new phase of a business relationship, which has been in place since 2004 will see Wilhelmsen and Hyundai Glovis work together practically to explore both short, and longer-term opportunities. For example, the agreement highlights a shared focus on opportunities within the global gas shipping market, along with conducting research into alternative vessel fuels, such as Liquefied Hydrogen.
Commenting on the announcement 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, “We are pleased to strengthen our partnership with Wilhelmsen Group. 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.”
Hyundai Glovis President Kim Jung-hoon (left) and Wilhelmsen group CEO Thomas Wilhelmsen. The event was held via video conference due to the Coronavirus
With over twenty-five years’ experience in the gas shipping market, Wilhelmsen Ship Management’s expertise, managing both LNG and LPG vessels will prove invaluable to Hyundai’s growth ambitions in this segment. Helping to strengthen ship safety management, while streamlining operational costs through strategic cooperation and innovation.
Providing specialized management expertise and insights on targeted technical areas, such as ballast water and scrubbers, in addition Wilhelmsen will share several their digital initiatives for potential trial on Hyundai Glovis vessels. Beneficial for both companies, whether it is their vessel performance monitoring system, digital mooring application, or onboard IT infrastructure, Wilhelmsen will be able to benchmark and refine their innovations alongside a willing partner.
In addition to ship management services and digital initiatives, Hyundai Glovis will also look for opportunities to cooperate with Wilhelmsen’s agency division to achieve operational efficiencies across their global port operations.