Hyundai Glovis secures contracts worth $1.3bn

Hyundai Glovis, the auto shipping unit of South Korea’s Hyundai Motor Group, has secured KRW1.42 trillion ($1.3bn) worth of contracts to transport vehicles for Hyundai Motor and its affiliate Kia Motors.

Under the two separate deals, which account for up to 60% of Hyundai and Kia’s exports, Hyundai Glovis will ship Hyundai and Kia cars to the United States, Europe, the Middle East and Asia until December 2019.

In July 2017, Hyundai Glovis signed a share purchase agreement to take over full equity in Eusu Ship Management for KRW11bn to enhance its shipping business.

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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