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Friday, September 4, 2020 

Wilhelmsen and Hyundai Glovis have signed a new memorandum of understanding (MoU), extending the existing relationship which dates back to 2004, under which the two companies will exchange expertise and competency to improve existing technology and service areas, along with looking for new opportunities to shape the future of the maritime industry.

Under the new MoU, Wilhelmsen and Hyundai Glovis will work together practically to explore both short, and longer-term opportunities. The agreement highlights a shared focus on opportunities within the global gas shipping market, along with conducting research into alternative vessel fuels, such as Liquefied Hydrogen.

Wilhelmsen Group CEO Thomas Wilhelmsen said: “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”.

Jung-Hoon Kim, CEO Hyundai Glovis, said: "We are pleased to strengthen our partnership with Wilhelmsen Group. This MoU that we are signing today will leverage on each company's strengths to maximise synergies and provide competitive options for both companies to respond rapidly [to] growing global gas demands and tightened environmental regulations."

With over 25 years experience in gas shipping, Wilhelmsen Ship Management’s expertise, managing both LNG and LPG vessels, will prove invaluable to Hyundai’s growth ambitions in this segment, helping to strengthen ship safety management, while streamlining operational costs through strategic cooperation and innovation.

Providing specialist management expertise and insights on targeted technical areas, such as ballast water and scrubbers, Wilhelmsen will share several digital initiatives for potential trial on Hyundai Glovis vessels. Examples include vessel performance monitoring, digital mooring and onboard IT infrastructure.

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