Wilhelmsen and Hyundai to research alternative vessel fuels

Wilhelmsen and Hyundai to research alternative vessel fuels

Global maritime group Wilhelmsen has joined forces with Hyundai Glovis to focus on new opportunities within the global gas shipping market, looking into alternative vessel fuels such as liquified hydrogen.

The companies today signed a memorandum of understanding through which they will exchange expertise and competency to improve existing technology and service areas.

Thomas Wilhelmsen, CEO of the Wilhelmsen Group, said, “We have always been interested in leveraging potential synergies between the two companies, but its 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.”

In addition to ship management services and digital initiatives, Hyundai Glovis will also look for opportunities to cooperate with Wilhelmsen’s agency division to achieve operational efficiencies across their global port operations.

Jung-Hoon Kim, CEO from 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, growing global gas demands and tightened environmental regulations.”

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