Hyundai Glovis and US LGL to Explore Commercial Operation of SMR-Powered Car Carriers

Hyundai Glovis is exploring the feasibility of commercial operation of car carriers (PCTCs) powered by Small Modular Reactors (SMRs) between South Korea and the United States in partnership with an American logistics company.

On October 6, Hyundai Glovis announced that it has signed a memorandum of understanding (MOU) with Liberty Global Logistics (LGL) for the "joint review of operating routes for SMR-powered car carriers between South Korea and the United States."

Taewoo Kim, Head of Logistics Business Division at Hyundai Glovis (left), and David R. Minetti, President of LGL, are posing for a commemorative photo at the agreement ceremony held at the LGL headquarters in New York State, USA, on the 30th of last month. Hyundai Glovis

LGL is a specialized shipping and international multimodal transport company engaged in the transportation of automobiles, heavy equipment, project cargo, and other types of freight. The company also holds major contracts with the United States Department of Defense and handles government cargo transportation.

The signing ceremony took place on September 30 (local time) at LGL headquarters in Jericho, New York State, and was attended by Kim Tae-woo, Head of Logistics Business Division (Executive Vice President) at Hyundai Glovis, David R. Minetti, President of LGL, and other officials from both companies.

Under this agreement, the two companies will jointly examine the feasibility of commercial operation of SMR-powered vessels between Korea and the United States. Hyundai Glovis will analyze the characteristics of Korean ports, regulatory environment, and operational requirements, while LGL will review relevant regulations and operating conditions in the United States.

The companies will also study possibilities for vessel development and construction, the selection of flag state and classification society, and strategies for commercialization.

Utilizing SMRs as a vessel power source offers the advantage of significantly reducing carbon emissions during operation compared to conventional fossil fuel-based ships, as well as the ability for extended operation without the need to refuel. There is also an expectation that freight space within the vessel can be used more efficiently since fuel tanks and exhaust emissions equipment are not required.

The Korean government is also promoting the development and broader application of innovative SMRs (i-SMRs) based on the SMR Special Act. The development of SMR-powered vessels that combine nuclear energy with shipbuilding and marine technology is being pursued as part of the "K-Moonshot" initiative.

Hyundai Glovis previously confirmed the technical feasibility of SMR-powered PCTCs. At Posidonia, the world’s largest shipping exhibition held in Athens, Greece in June, Hyundai Glovis obtained an Approval in Principle (AiP) for the concept design of an SMR-powered PCTC from Lloyd's Register (LR).

The AiP is a procedure in which the classification society reviews and approves the technical feasibility and safety of a vessel’s concept design before actual construction, based on international regulations and safety standards.

An official from Hyundai Glovis stated, "Having confirmed the technical feasibility of SMR-powered PCTCs, we plan to verify a range of conditions required for actual commercial operation through this collaboration." The official also noted, "Following our proactive introduction of the world's largest LNG dual-fuel PCTC, we are now broadening our scope to next-generation zero-carbon vessel technology as we prepare for the future shipping market."

This content was produced with the assistance of AI translation services.