Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, said Tuesday it has signed a long-term liquefied natural gas (LNG) shipping deal with Australian energy firm Woodside.
Hyundai Glovis has ordered a local shipbuilder to build an LNG ship to transport LNG for Woodside. Once the ship is delivered in late 2024, the company will begin shipping, a company spokesman said.
Hyundai Glovis is the first Asian shipping company to sign an LNG shipping deal with Woodside.
The company said it will deliver LNG produced in Australia to "global demand sources," such as Northeast Asia.
Hyundai Glovis, which has focused on shipping vehicles for its affiliates Hyundai Motor Co. and Kia Corp., aims to strengthen its presence in the rapidly growing LNG shipping market.