Eukor has succesfully extended the terms of its contract to ship Hyundai and Kia vehicles from Korea as well as adding extra trade from China.
Hyundai-Kia has expanded the terms of its contract with Eukor for the deep-sea transport of its finished vehicles from three years to five, generating $4.2 billion in freight revenue.
Eukor’s share of exports from South Korea has increased to 50% and it has also increased export volumes from China, helping the Wallenius Wilhelmsen subsidiary to strengthen its automotive logistics services in Asia. Eukor has also introduced a new trade route to Australia.
“The contract is nothing short of historic for EUKOR and Wallenius Wilhelmsen,” said Xavier Leroi, CEO of Eukor and chief operations officer of shipping services at Wallenius Wilhelmsen.
Eukor said the renewed partnership reinforces its dedication to delivering innovative, sustainable solutions and driving progress across the global logistics industry.
Eukor has recently secured $450m in financing for six new Shaper Class ro-ro vessels aimed at meeting its goal to decarbonise its finished vehicle services. The company said it is committed to upholding the highest standards of reliability, efficiency and environmental responsibility to support its customers and contribute to a greener future for global trade.
Lee Yiminwoo, senior financial risk and funding manager, who led the financing initiative for the new vessels said: “This financing not only facilitates the construction of these new vessels but also reinforces our role in steering the shipping industry toward a more sustainable future. I am proud to be part of a project that is so deeply aligned with our long-term vision and environmental goals.”
No comments yet