Hyundai Glovis Signs Shipping Contract with Qatar’s State-run Corporation

Hyundai Glovis CEO Kim Kyung-bae (left) shakes hands with Qatar Primary Materials Co. CEO Eisa al-Hammadi after signing a long-term marine shipping contract worth US$500 million (582 billion won) to carry construction aggregate at the company headquarters in Gangnam-gu, Seoul, on Oct. 5. Under the terms of the exclusive agreement, Hyundai Glovis will carry 50 million tons of aggregates to the appropriated wharf of QMPC in Mesaieed in south Qatar by Dec. 2020. With the contract, Hyundai Glovis will greatly expand its shipping business in the Middle Eastern region.