Trump Signals Possible U.S.-Iran Peace Deal as Hormuz Reopening Nears 
EngineAI Files for Hong Kong IPO Amid Rising Demand for AI and Robotics Stocks 
Trump Signals Opposition to USMCA Renewal as U.S. Reviews Trade Relations with Canada and Mexico 
Pakistan Economy Grows 3.7% in FY2026 Amid Strong Fiscal Performance 
Asian Stocks Rally as Trump Signals Iran Peace Deal; Tech and Chip Shares Rebound Strongly 
Oil Prices Surge Above $93 as Trump Escalates Iran Pressure and Strait of Hormuz Tensions Deepen 
Sigma Healthcare Shares Slide Amid Preliminary Boots Acquisition Talks 
Japan Producer Prices Surge in May, Strengthening Expectations of BOJ Rate Hike 
Wall Street Slides as U.S.-Iran Tensions Escalate; Tech Stocks Extend Losses in 2026 
ECB Set to Raise Interest Rates as Energy Shock Fuels Eurozone Inflation Concerns 
Woodside Energy Acquires PetroChina’s Browse Stake, Expands Position in Major Australian Gas Project 
Apple Unveils Enhanced Apple Intelligence and Next-Generation Siri at WWDC 2026 
Adobe Beats Q2 2026 Estimates, Raises Full-Year Outlook as AI Revenue Surges Despite Stock Drop 
Asics Considers Onitsuka Tiger Spinoff as Luxury Sneaker Brand Expands Globally 
Trump Says Iran Peace Deal Near as Markets Rally and Oil Prices Fall 
Meta Partners With Reliance to Launch First AI-Powered Data Center in India 
Intesa Sanpaolo Launches €30.6 Billion Bid for Monte dei Paschi to Drive Italian Banking Consolidation 
Hyundai Glovis, a logistics company headquartered in Seoul, South Korea, and a unit of the Hyundai Kia Automotive Group, signed a deal with Trafigura, a Swiss multinational commodity trading company, to enter the gas transportation business.
The shipping deal will pave the way for Hyundai Glovis to officially enter the gas shipping market. It was said that the agreement marks the day when the Korean firm slowly moves away from car carriers and shifts to building a hydrogen value chain.
The logistics unit of the Hyundai Group revealed about the deal with Trafigura on Sunday, Sept. 5. It shared that it will be getting into the gas shipping market with its target date of 2024 after striking a multi-year deal with the Geneva headquartered company.
According to The Korea Herald, the deal will have Hyundai Glovis carry liquefied natural gas and ammonia for up to 10 years and these will be sold in the global market. As part of the new business, the company is set to construct two very large gas carriers or VLGC that measures 86,000 square meters in capacity. It was said that the two vessels entail ₩200 billion or around $173.2 million investment from Hyundai.
The amount is huge because the VLGCs must be made with special materials so they can hold the ammonia. It was said that just about 10% of all the VLGCs in the world have such features so it will really be sturdy and safe. Hyundai said that these materials are definitely different from what they use in LPG carriers.
“We have proved our competitiveness in the gas shipping industry through a long-term deal with a global commodity trading company,” a Hyundai Glovis official stated. “We will also see the process of building a hydrogen value chain gather speed. We plan to carry liquefied hydrogen and take the lead in global hydrogen distribution.”
Trafigura is one of the world’s leading and largest commodities trading firms. In last year alone, it earned around ₩173 trillion and ₩3.4 trillion in operating profit. Its partnership with Hyundai Glovis is its first step towards its foray into new ventures. Finally, Yonhap News Agency reported that Hyundai’s logistic arm that usually carries cars will now establish its hydrogen delivery business to meet the growing demand for clean fuel around the world.
