Norwegian shipping group Wilhelmsen and logistics firm Hyundai Glovis have signed a memorandum of understanding (MoU) to explore changes in gas carriers and develop hydrogen as a marine fuel
In addition to research into alternative vessel fuels such as liquefied hydrogen, the MoU covers areas where the companies have a shared focus on opportunities within the global gas shipping market.
Both companies will exchange expertise to improve existing technology and service areas, according to the terms of the MoU, which builds on the existing business relationship between the two companies.
Wilhelmsen Group chief executive Thomas Wilhelmsen said the companies’ shared focus on developing hydrogen as a fuel for the future acted as a catalyst for the agreement.
“Starting an in-depth discussion, which has unlocked areas where we can share competence, expertise and ambition, this framework agreement is just the beginning,” Mr Wilhelmsen said.
With plans to grow its business within the gas shipping sector, Hyundai Glovis hopes to leverage Wilhelmsen’s expertise in managing both LNG and LPG vessels. Hyundai Glovis said it will also look for opportunities to co-operate with Wilhelmsen’s agency division to achieve operational efficiencies across its global port operations.
Wilhelmsen said it will share several digital initiatives for potential trials on Hyundai Glovis vessels. A statement from the company said it is seeking to benchmark and refine innovations in vessel performance monitoring, digital mooring and onboard IT infrastructure alongside a willing partner.
Hyundai Glovis chief executive Jung-Hoon Kim said "We are pleased to strengthen our partnership with Wilhelmsen Group. This MoU we are signing today will leverage on each company’s strengths to maximise synergies and provide competitive options for both companies to respond to rapidly growing global gas demands and tightened environmental regulations."
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