Wilhelmsen and Hyundai Glovis to work together on ‘alternative vessel fuels’

Wilhelmsen is deepening its ties with Hyundai Glovis to ‘focus on opportunities within the global gas shipping market, along with conducting research into alternative vessel fuels, such as liquefied hydrogen’.

Explaining why the companies are expanding on their existing business relationship, which has been in place since 2004, 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, added: ‘This MOU that we are signing today will leverage on each company’s strengths to maximise synergies and provide competitive options for both companies to respond rapidly growing global gas demands and tightened environmental regulations.’

Wilhelmsen believes that its experience in managing both LNG and LPG vessels will ‘prove invaluable to Hyundai’s growth ambitions in this segment’.

Wilhelmsen added that it will be sharing its digital initiatives for ‘potential trial on Hyundai Glovis vessels’, as well as its expertise and insights in ‘targeted technical areas, such as ballast water and scrubbers’.

Hyundai Glovis will also be working with Wilhelmsen’s agency division to achieve ‘operational efficiencies’ across its global port operations.

Ian Taylor

Ian Taylor