Hyundai Glovis Q2 PCTC Volume Surges 20.9% Despite Rising Fuel Costs

According to Yonhapinfomax, Hyundai Glovis reported on July 23 that its PCTC (car carrier vessel) shipment volume from non-affiliated customers rose 20.9% year-over-year in the second quarter. Operating profit declined 34.6% due to fuel and raw material costs, yet the company expanded its market influence globally amid the PCTC shortage in shipping markets.

Second-quarter consolidated revenue reached 8.7 trillion Korean won, up 15.8% year-over-year, while operating profit fell 8.1%. Hyundai Glovis expects the PCTC shortage to persist until 2030, positioning the crisis as an opportunity to secure additional business partnerships with Chinese automakers beyond logistics services.