Hyundai Glovis announced the signing of a contract for the maritime transport of liquefied natural gas (LNG) with a major global general trading company. This contract is expected to generate approximately 580 billion KRW in sales over a period of up to 15 years.
To fulfill the contract, Hyundai Glovis will build a new 174,000 m² LNG carrier and use it for transport. The vessel will have the capacity to transport more than half of Korea’s daily LNG consumption simultaneously and will be equipped with state-of-the-art storage facilities capable of maintaining ultralow temperatures of -162 °C.
Hyundai Glovis aims to strengthen its competitiveness in the global gas shipping market and contribute to the establishment of a stable energy supply chain.
In its recent Gas 2025 report, the International Energy Agency (IEA) projected that the volume of global LNG trade would increase by approximately 300 billion cubic meters by 2030. This represents 40% of the global LNG trade volume (approximately 700 billion cubic meters) as of 2023, and is considered a key factor driving the future diversification of the energy supply chain and the increase in shipping demand.
Hyundai Glovis has been operating an LPG carrier and an LNG carrier in the global gas transport market since 2024. It plans to deploy four additional LNG carriers in 2027 for the Middle East.
