Hyundai Glovis Supports SME Export Logistics... Utilizing Car Carriers

(From right) Kim Jeong-hoon, CEO of Hyundai Glovis, Moon Seung-wook, Minister of Trade, Industry and Energy, and Lee Gwan-seop, Vice Chairman of the Korea International Trade Association, are posing for a commemorative photo after the signing ceremony of the "MOU for Cooperation to Support Maritime Transportation for Small and Medium Enterprises" at Trade Tower, Samseong-dong, Seoul on the 21st.

[Asia Economy Reporter Dongwoo Lee] Hyundai Glovis announced on the 21st that it will support transportation using Pure Car and Truck Carriers (PCTC) to alleviate the difficulties faced by domestic export companies experiencing a shortage of shipping capacity.

Hyundai Glovis explained this while signing a "Memorandum of Understanding (MOU) for Cooperation to Support Maritime Transportation for Small and Medium Enterprises" with the Korea International Trade Association at the Trade Tower in Samseong-dong, Seoul. The signing ceremony was attended by Kim Jeong-hoon, CEO (President) of Hyundai Glovis, and Lee Gwan-seop, Vice Chairman of the Korea International Trade Association.

The company heard that due to the impact of COVID-19 last year, domestic small and medium enterprises have difficulty securing export vessels and often have to pay high freight charges, which lowers export competitiveness, and thus agreed with the Korea International Trade Association on mutual support.

According to the agreement, Hyundai Glovis plans to support 'break bulk cargo' companies in using car carriers until early next year.

Break bulk cargo refers to large and heavy cargo such as industrial and power generation equipment, electric vehicles, steel products, construction and mining equipment, which are not loaded in containers like container cargo but are shipped as individual items using special wheeled equipment.

Previously, Hyundai Glovis verified its break bulk cargo transportation capability by successfully transporting thermal and wind power generation equipment on car carriers to locations such as Baltimore, USA, and Bremerhaven, Germany, upon request from a global energy infrastructure company.

Considering that the third quarter, when shipping volumes usually surge, is the peak season for the shipping industry, it is expected that Hyundai Glovis's export support using car carriers will be of some help to small and medium enterprises.

Export companies wishing to load cargo on Hyundai Glovis vessels can inquire through the Korea International Trade Association or the Export-Import Logistics Comprehensive Response Center website. Consultations are also available through the Korea International Trade Association Logistics Service Office or the Trade Call Center.

A Hyundai Glovis official said, "We hope that the company's competitive advantages, such as abundant maritime logistics infrastructure and years of transportation experience, will help resolve the difficulties faced by domestic export companies," and added, "We plan to continue mutual cooperation to overcome logistics challenges."