Hyundai Glovis acquires Eusu Ship Management

Hyundai Glovis acquires Eusu Ship Management

Hyundai Glovis, the logistics unit of Hyundai Motor Group, has signed an agreement with South Korea’s Eusu Holding to take over full equity in Eusu Ship Management for KRW11bn ($9.7m).

Hyundai Glovis expects the takeover deal to save costs and enhance management efficiency for the company’s shipping business.

Eusu Ship Management has been the manager for the entire Hyundai Glovis fleet, made up of 31 car carriers and 15 bulk carriers. Another two car carrier newbuildings, which are currently under construction at Hyundai Samho, are set to join the company’s fleet this year.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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