Jointly Awarded with Japan's Kawasaki Kisen
Joint Operation of Four Vessels with a Capacity of 174,000㎥
Hyundai Glovis has secured an LNG maritime transportation project from QatarEnergy, the world's largest liquefied natural gas (LNG) company.
On the 1st, Hyundai Glovis announced that it won a long-term charter contract for four LNG carriers from QatarEnergy. The company formed a consortium with the Japanese shipping company Kawasaki Kisen and participated in the second bidding round, winning the contract. Each vessel has a capacity of 174,000 cubic meters. Hyundai Glovis and Kawasaki Kisen plan to jointly operate these vessels starting in 2027.
Through this, Hyundai Glovis aims to secure new growth momentum in the LNG transportation market. Following its recent full-scale entry into liquefied petroleum gas (LPG) and ammonia maritime transportation, the company is expanding into LNG maritime transportation, signaling a strategy to exert influence in the gas transportation market.
Earlier, the global investment bank Morgan Stanley analyzed that LNG demand will increase by 25-50% by 2030. QatarEnergy also plans to increase its LNG production from the current 77 million tons annually to 142 million tons by 2030.
A Hyundai Glovis official stated, "In the era of energy transition, we plan to play an important role as a global shipping company," adding, "We will demonstrate global competitiveness not only in the automobile carrier market but also in the gas maritime transportation sector."
Hyundai Glovis' newly ordered liquefied natural gas (LNG) carrier, identical to the vessel shown (Photo by Hyundai Glovis)
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