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Sunday, June 16, 2024

Wallenius Wilhelmsen Bags $1.2B in New Deals

Maritime Activity Reports, Inc.

January 30, 2024

(Credit: Wallenius Wilhelmsen)

(Credit: Wallenius Wilhelmsen)

Wallenius Wilhelmsen has signed significant contracts whose combined worth amounts to $1.2 billion for the world’s largest RoRo vessel operator.

The contracts have been signed with a leading global construction and mining equipment manufacturer, and with one of the largest automotive distributors in the Americas.

The first multi-year shipping contract with equipment manufacturer has a duration of three years, plus a two-year extension option.

It is valued at approximately $1 billion in total, based on expected volumes over the three-year period.

The renewed agreement with a key long-term partner started in November 2023, with amended rates in line with current market levels.

The second multi-year shipping contract with automotive distributor, valued at $200 million, started in early 2024. The contract value is based on anticipated volumes over a two-year period, and rates are in line with present market levels, according to Wallenius Wilhelmsen.

Both customers’ agreements include direct support for Wallenius Wilhelmsen’s decarbonization initiatives, such as the use biofuel, technical and operational improvements to the existing fleet, and the development of new technologies.

“Continuing our positive start to 2024, these two separate, significant multi-year contracts further strengthen our existing partnerships with key customers in the high and heavy and automotive segments, extending predictability for both the customer and Wallenius Wilhelmsen,” said Pia Synnerman, Chief Customer Officer at Wallenius Wilhelmsen.