“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," Thomas Wilhelmsen, CEO of the Wilhelmsen Group stated.

Hyundai Glovis CEO Jung-Hoon Kim said the new alliance would provide both companies with strategic options for responding to rising global demands for gas and tightened environmental regulations.

With over 25 years of experience in the gas shipping markets, the expertise of Wilhelmsen Ship Management, managing both LNG and LPG vessels, will prove useful for the growth ambitions of Hyundai Glovis.

In addition, Wilhelmsen will share several of their digital initiatives for potential testing on Hyundai Glovis vessels, providing specialized management expertise and insights into targeted technical areas such as ballast water and scrubbers. Wilhelmsen said along with a willing partner, it will be able to benchmark and refine its innovations.

Hyundai Glovis will also look for opportunities to collaborate with the agency division of Wilhelmsen to achieve operational efficiencies across its global port operations.

Since 2004 the two companies have had a close business relationship.

Maritime Business World