Hyundai Glovis to expand Philadelphia port operations

Hyundai Glovis has signed a Memorandum of Understanding (MOU) with the Philadelphia Port Authority (PhilaPort) and local developers to participate in the expansion and development of the Port of Philadelphia. The agreement includes plans to extend existing site contracts until 2056 and secure new logistics sites for finished vehicles.

Through this partnership, Hyundai Glovis aims to secure dedicated berths for automobile carriers and enter the finished vehicle terminal operation business. This move is intended to strengthen its position as a logistics hub for the U.S. East Coast, providing end-to-end integrated services that encompass maritime transport, terminal operations, storage, and inland transportation.

Currently, the company operates approximately 1 million square meters of logistics space in Philadelphia with a storage capacity of 33,600 vehicles. Following the completion of new site developments, the operating area is expected to expand to approximately 1.1 million square meters, increasing vehicle storage capacity to 37,600 units.