Hyundai Glovis stock plans 14 car carriers as China exports rise
Published on 11/11/2026 at 00:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSFleet expansion supports earnings outlook
- Shinhan Investment & Securities expects Hyundai Glovis to benefit from Chinese vehicle exports and higher shipping rates.
- The company is expanding its car-carrier fleet while fuel costs remain a short-term earnings variable.
- Fourth-quarter revenue and operating profit are forecast to increase year over year.
Hyundai Glovis is preparing to expand its car-carrier fleet as rising Chinese finished-vehicle exports support demand for vehicle shipping. Financial News reported on November 6 that the company plans to take delivery of 14 large newbuilds from the fourth quarter of 2026 through 2027.
Chinese exports reshape shipping demand
The report said Hyundai Glovis raised its forecast for this year's shipments of non-affiliated finished vehicles from China to 510,000, compared with 450,000 at the start of the year. Shinhan Investment & Securities analyst Choi Min-gi said the company is using short-term and spot contracts with Chinese automakers to capture strong freight rates.
Four of the new vessels are due in the fourth quarter, with each capable of carrying 10,800 vehicles. Ten more are scheduled for delivery next year. The average fleet measured in vessels with capacity for 6,500 vehicles is expected to rise from 104 this year to 123 next year and 139 in 2029.
Analyst sees higher fourth-quarter profit
Choi forecasts fourth-quarter revenue of 8.8576 trillion won and operating profit of 561.7 billion won, increases of 18.5 percent and 10.5 percent respectively from the same period a year earlier. The outlook assumes continued support from higher rates on freight-forwarding contracts signed in the second half and stronger domestic vehicle demand during the peak season.
Fuel costs remain a short-term variable. According to the report, fuel surcharges recover higher costs with a lag of about two months, so the timing of oil-price movements can affect quarterly profitability even when the expense is ultimately passed through.
Integrated automotive logistics platform
Hyundai Glovis provides integrated logistics services including transport, storage and handling, international logistics, logistics-equipment leasing and packaging. Its business also covers vehicle shipping, distribution, used-car auctions, parts supply and technology-based logistics solutions. The company is headquartered in Seoul and operates across international automotive and supply-chain markets, with a focus on automotive cargo and connected logistics services.
Hyundai Glovis at a glance
- Company: Hyundai Glovis Co., Ltd.
- ISIN: KR7086280005
- Ticker: 086280
- Home exchange: KOSPI
- Headquarters: Seoul, South Korea
- Core activities: Automotive logistics, shipping, distribution and supply-chain solutions
South Korean equities are tracked through the KOSPI market.
