South Korea logistics and distribution company Hyundai Glovis said Thursday it has secured a liquefied natural gas (LNG) shipping contract worth approximately KRW 580 billion (around USD 396m) that will run for up to 15 years, with the company identifying the counterparty only as a “leading global trading firm.”
The company announced that the deal involves a 174,000㎥3 LNG carrier that Hyundai Glovis will order and deploy from 2029.
The newbuild LNG carrier will be built exclusively for the project and will be deployed from 2029.
The vessel, capable of carrying more than half of Korea’s average daily LNG consumption in a single load, will feature advanced storage facilities that maintain ultra-low temperatures.
The new LNG carrier is expected to transport LNG from the U.S. Gulf Coast to major global markets.
Since 2024, the company has deployed one LPG carrier and one LNG carrier in the global gas transport market. In 2027, it plans to add four more LNG carriers to transport cargo for Middle Eastern clients.
A representative from Hyundai Glovis stated, “We will continuously expand our fleet to strengthen competitiveness in the energy maritime transport market, including LNG, and broaden our network with global clients.”
