Hyundai Glovis is forecast to spend around KRW 300bn ($252m) in 2020 on newbuildings, according to analysts who follow the company.
The orders are expected to be placed on the back of a growing volume of long-term contracts with car maker’s overseas plants, said Joshua Yang and Jane Lee of Daishin Securities.
The two Seoul-based analysts said they Hyundai Glovis will be looking to tap the corporate bond market to help fund the newbuilding investment.
