Hyundai Glovis, LGL explore SMR-powered car carrier route

Hyundai Glovis said Tuesday it has signed a memorandum of understanding with U.S.-based Liberty Global Logistics (LGL) to jointly explore operating a small modular reactor (SMR)-powered pure car and truck carrier (PCTC) between Korea and the United States. LGL specializes in transporting automobiles, heavy equipment, breakbulk and project cargo and is a major U.S. Department of Defense contractor for government cargo. The agreement was signed Sept. 30 at LGL's headquarters in Jericho, New York, with Kim Tae-woo, executive vice president of Hyundai Glovis' Logistics Business Division, and David Minetti, president of LGL, among the officials present from both companies. Hyundai Glovis will assess port conditions, regulations and operational requirements in Korea, while LGL will review the U.S. regulatory and operating environment. The companies will also study vessel development and construction, flag-state and classification requirements, and commercialization strategies. An SMR-powered vessel could enable long-term operations with minimal carbon emissions and without frequent refueling.