"Hyundai Glovis Introduces Ultra-Large Carrier Ship That Also Transports Gas"

Hyundai Glovis announced on the 27th that it will introduce two newly built ultra-large gas carriers (VLGC). After transporting finished vehicles, iron ore, crude oil, and various raw materials, the company has now expanded its business scope to include the challenging gas sector.

The company held a naming ceremony for the Taebaek Explorer at HD Hyundai Samho in Yeongam, Jeollanam-do, the day before. This carrier can load 86,000㎥ of liquefied petroleum gas (LPG) and measures 230 meters in length, equivalent to the size of two soccer fields. The LPG loaded on one ship is enough for Korean households and businesses to use for ten days. Following this vessel, its twin ship, the Sobaek Explorer, is expected to be deployed around mid-year.

From the fourth person on the left in the front row: Kim Tae-woo, Head of Shipping Division at Hyundai Glovis; Andrea Olivi, Head of Crude Oil and Gas Cargo Division at Trafigura; Mrs. Annamaria Olivi; Kim Jung-seok, Head of Bulk Carrier Division at Hyundai Glovis, and other officials are taking a commemorative photo at the naming ceremony of the "Taebaek Explorer" held on the 26th at HD Hyundai Samho Shipyard in Yeongam, Jeollanam-do.
[Photo by Hyundai Glovis]

The newly introduced ships have cargo tanks made of special materials, enabling them to handle ammonia as well. Gas carriers capable of transporting ammonia number around 50 worldwide, accounting for only about 10% of the total fleet. The new vessels are equipped with LPG dual-fuel engines and shaft generators. A shaft generator produces electricity using the rotational power of the ship's engine shaft while in operation, which means fuel is used efficiently.

Previously, the company signed a maritime transportation contract for LPG and ammonia with the raw materials company Trafigura. They plan to transport gas to various parts of the world. Trafigura is a raw materials trading company dealing in petroleum, metals, and minerals, with sales reaching 323 trillion won last year.

Hyundai Glovis plans to strengthen its position in the maritime transportation market by adding gas carriers to its fleet of 87 car carriers, 10 bulk carriers, and 10 tankers. The gas transportation market, including LPG, liquefied natural gas (LNG), and hydrogen, is growing year by year as demand increases.

Andrea Olivi, Head of Business at Trafigura, said, "It is meaningful to work with Hyundai Glovis using the latest technology vessels capable of transporting both LPG and ammonia." A Hyundai Glovis official stated, "We will actively expand the gas carrier business to include LNG maritime transportation in the future and diversify our maritime transportation business. We will also secure related capabilities for the maritime transportation of hydrogen, which is considered a future energy source."