Eukor secures long-term contract for Korean car transports

South Korean car carrier Eukor, controlled by Swedish Wallenius and Norwegian Wilh Wilhelmsen, has secured an extension of its transport agreement with Korean car manufacturers Hyundai Motor Company and Kia Motor Company. The extension means that Eukor will transport 100 per cent of the cars out of South Korea up until 2016 with an option on a further four years. After this, Eukor will transport a majority of the cars exported. Last year, Eukor transported two million Hyndai/Kia cars.
The new agreement includes a bunker price adjustment clause as well as rate compensations for cost variations.