Hyundai Glovis, KOBC sign deal for car carriers

Hyundai Glovis Co. and Korea Ocean Business Corporation (KOBC) announced on Monday that they will sign a business agreement on Feb. 6. related to the construction of four pure car & truck carriers (PCTCs).

Under the agreement, both sides aim to build a collaborative logistics system for supplying vessels for the domestic automotive industry. KOBC plans to support the construction of PCTCs as a shipowner.

The PCTCs will be able to accommodate a maximum of 10,800 compact cars. These are the largest among the currently operating or ordered car carriers.

Notably, the PCTCs will be low-carbon ships equipped with LNG dual-fuel propulsion systems and onshore power supply facilities, enhancing their adaptability to more stringent future marine environmental regulations.

These four new large car carriers represent the first case of KOBC supporting the construction of new low-carbon ships as a shipowner. The vessels will operate under a long-term charter agreement with Hyundai Glovis and will be utilized for the export of domestic automobiles.

Due to a global shortage of car carriers last year, the domestic automotive industry faced challenges in securing transportation vessels, leading to difficulties such as exporting cars in container ships.

Write to Se-Min Huh at semin@hankyung.com