Wallenius Wilhelmsen’s car carrier subsidiary, Eukor, has signed an enhanced shipping agreement with Hyundai Motor Group, valued at approximately $4.2 billion over five years.
The renewed contract extends the partnership’s term from three to five years and increases Eukor’s share of Korean car exports from 40% to 50%. The Oslo-listed company owns 80% of Eukor, while Hyundai Motor Group holds the remaining 20%.
“The contract confirms Wallenius Wilhelmsen’s strong position in Korea and cements our long-term partnership with Hyundai Motor Group,” said Lasse Kristoffersen, President and CEO of Wallenius Wilhelmsen.
The deal covers the shipping of Hyundai and Kia vehicles, including expanded export volumes from China. The agreement solidifies Eukor’s role in Hyundai Motor Group’s global supply chain, reflecting its commitment to efficient and reliable automotive logistics.
This strategic partnership highlights Wallenius Wilhelmsen’s leadership in car carrier shipping and its continued growth in key Asian markets.