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Hyundai Glovis and KOBC to Launch New Generation of Eco-Friendly Carriers

Partnership aims to enhance logistics for automotive exports with advanced, low-carbon vessels
South Korea
h 086280.KO Mid and Small Cap 2000
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Hyundai Glovis Co. and Korea Ocean Business Corporation (KOBC) are set to revolutionize the automotive logistics sector with a strategic partnership focusing on the construction of four advanced pure car & truck carriers (PCTCs). This initiative, slated to commence with a business agreement on February 6, marks a significant step towards bolstering the domestic automotive industry’s shipping capabilities. The PCTCs, designed to hold up to 10,800 compact cars each, will be the largest of their kind, surpassing current or previously ordered car carriers in capacity.

In a move towards sustainability, these carriers will be outfitted with LNG dual-fuel propulsion systems and onshore power supply facilities, positioning them at the forefront of eco-friendly maritime transport. This design not only meets the immediate needs of the automotive industry but also anticipates stricter marine environmental regulations expected in the future.

This collaboration represents KOBC’s inaugural venture into supporting the construction of low-carbon ships as a shipowner. By operating under a long-term charter with Hyundai Glovis, the vessels are poised to play a pivotal role in exporting domestic automobiles. This initiative comes as a timely response to the previous year’s global shortage of car carriers, which had impeded the industry’s ability to export vehicles efficiently, forcing some to resort to container ships for transportation.

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