Wilhelmsen and Hyundai Glovis have signed a memorandum of understanding (MoU) that will see the two companies explore both short, and longer-term opportunities in the maritime industry.

Hyundai Glovis President Kim Jung-hoon (left) and CEO of the Wilhelmsen group Thomas Wilhelmsen. The event was held via videoconference.

This new phase of a business relationship, which has been in place since 2004, will see Wilhelmsen and Hyundai Glovis work on opportunities within the global gas shipping market, along with conducting research into alternative vessel fuels, such as liquefied hydrogen.

Thomas Wilhelmsen, ceo of the Wilhelmsen group, said: “We have always been interested in leveraging potential synergies between the two companies, but it is 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”.

Wilhelmsen will also share several of its digital initiatives for potential trial on Hyundai Glovis vessels. These initiatives cover vessel performance monitoring systems, digital mooring applications, and onboard IT infrastructure. For Wilhelmsen, the company will be able to benchmark and refine its innovations alongside Hyundai Glovis.

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.