The Korean new agency, Maeil Business, informed that the company signed an agreement of $9.7 million with the crew agency to fully take over its management. The agreement is expected to enhance management and operational efficiency, as well as save cost for the logistics company which is part of the South Korean conglomerate Hyundai Motor Group.

Though relatively young, Hyundai Glovis has grown rapidly since its establishment and has made a smooth entry into the shipping industry in 2010.

Hyundai Glovis shipping group has its own fleet of Car Carriers and Bulk Carriers, providing services from Far East to Persian Gulf, North America West Coast, Central and South America West Coast, Red Sea and North Europe.

At the beginning of year 2012, Hyundai Glovis commenced services to East Coast of American Continent and to Africa.

The Korean company currently operates 46 vessels, including 31 car carriers and 15 bulk carriers that have been already managed by Eusu Ship Management.