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Wilhelmsen and Hyundai Glovis deepen ties

Wilhelmsen and Hyundai Glovis have signed a memorandum of understanding to exchange expertise and competency to improve existing technology and service areas, along with looking for new opportunities to shape the future of the maritime industry including research into alternative vessel fuels, such as liquefied hydrogen.

It’s our shared focus on developing hydrogen as a fuel for the future that has acted as the real catalyst

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 of Hyundai Glovis, said the new partnership would provide competitive options for both companies to respond to growing global gas demands and tightened environmental regulations.

With over 25 years’ experience in the gas shipping markets, Wilhelmsen Ship Management’s expertise, managing both LNG and LPG vessels, will prove useful to Hyundai Glovis’s growth ambitions in this segment.

Providing specialised 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. Wilhelmsen said it will be able to benchmark and refine its innovations alongside a willing partner.

In addition to shipmanagement 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.

The two companies have had a close business relationship since 2004.

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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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