Hyundai Glovis enters the gas trades with Trafigura deal

Hyundai Glovis, the logistics arm of Hyundai Group, will enter the gas shipping market in 2024 after striking a multi-year deal with commodity trader Trafigura.

Hyundai Glovis, best known for its car carrier fleet, will ship LNG and ammonia for Trafigura for an initial 10-year period.

Two 86,000 cu m VLGCs costing $173.2bn will be built as part of the deal.

Hyundai Glovis is now pursuing hydrogen shipping possibilities. Hyundai Glovis and Hyundai Heavy Industries’s basic design for a 20,000 cu m commercial liquefied hydrogen carrier won approval in principle from the Korean Register of Shipping and the Liberian Registry last October.

“We will see the process of building a hydrogen value chain gather speed. We plan to carry liquefied hydrogen and take lead in global hydrogen distribution,” a company spokesperson said.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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