Hyundai Glovis to invest $750 million in LNG-fueled car carriers
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Due to an anticipated improvement in earnings, Hyundai Glovis Co plans to invest $750 million in six new liquefied natural gas (LNG) dual-fuel car carriers.
According to Korean Economic Daily (KED), Hyundai Glovis Co. anticipates an improvement in earnings this year compared to last year, following a first-quarter report that exceeded expectations in both sales and operating profit. This success is largely attributed to heightened inland delivery of finished cars in overseas markets and the favorable conditions of high car shipping rates.
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Consequently, as mentioned, Hyundai Glovis unveiled plans to invest $750 million in constructing six new liquefied natural gas (LNG) dual-fuel vessels. Each vessel is capable of carrying 10,800 vehicles. The company aims to receive all six ships by the end of 2028.
We have decided to order more ships to ensure stable shipping and logistics services for our strategically important global clients in the mid-to-long term
… said the company in a statement
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