Independent journal on economy and transport policy
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Hyundai Glovis confirms its upcoming entry into the liquefied natural gas shipping market
15-year contract with Australian Company Woodside
April 12, 2022
The commercial agreement, signed by the CEO of Hyundai Glovis, Kim Jung-Hoon, and the MANAGING Director of Woodside, Meg O'Neill, has a duration of 10 years with option for an extension of five years.
The South Korean company has highlighted that with this contract it is a stable long-term business partner is ensured in a market, that of gas transport, which has high barriers to entry. Hyundai Glovis expects that this activity will be launched in the second half of 2024 upon delivery of a LNG carrier ordered by society. It is a unit naval for the transport of liquefied natural gas of capacity of 174 thousand cubic meters that Hyundai Glovis ordered last year February to compatriot Hyundai Samho Heavy Industries who will be 289.9 meters long and 46.1 meters wide.
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