Korea’s shipping industry and a seafarers’ union have called for a halt to the overseas sale of Hyundai LNG Shipping, the country’s largest carrier specializing in liquefied natural gas (LNG) transportation, according to BusinessKorea.
The Federation of Korea Maritime Industries (FKMI) put out a statement on May 8, taking issue with the overseas sale of Hyundai LNG Shipping. FKMI is an association of 54 groups related to shipping, ports, and logistics.
Hyundai LNG Shipping was the LNG transportation division of HMM (formerly known as Hyundai Merchant Marine) which was acquired by IMM Private in 2014 during Hyundai Merchant Marine’s liquidity crisis. Hyundai LNG Shipping is Korea’s largest liquefied gas carrier with 23 vessels, including 16 LNG carriers, six LPG carriers, and one LNG bunkering vessel, a strategic cargo carrier that mainly transports LNG imported by KOGAS.