Wallenius Wilhelmsen signs a significant multi-year shipping contract with Korea's leading construction machinery company

Wallenius Wilhelmsen recently signed a significant multi-year shipping contract with Korea's leading construction machinery company. The new agreement, which has a duration of three years, plus a two-year extension option, is valued at approximately USD 290 million in total, based on expected volumes over the three-year period. The contract commenced in January 2024, with rates in line with current market levels. "This multi-year contract further strengthens our partnership with one of our key customers in the high and heavy segment extending predictability not only for us, but also for the customer," says Pia Synnerman, Chief Customer Officer at Wallenius Wilhelmsen. The contract includes Wallenius Wilhelmsen's Reduced Carbon Freight Service, whereby through the utilization of B30 Biofuel, customers can typically reduce their Scope 3 CO2/GHG supply chain emissions by approximately 20-25%. Synnerman adds, "We are witnessing a transformation in customers' sense of urgency regarding the need to decarbonize their supply chains. Customers are partnering up with us and are increasingly committed to securing more sustainable solutions, such as biofuel." For further information, please contact: Anders Redigh Karlsen - VP Investor Relations & Market Insight Tel: +47 994 20 293 Email: anders.karlsen@walwil.com David Hopkins - External Communications Manager Tel: +47 942 88 486 Email: david.hopkins@walwil.com About Wallenius Wilhelmsen: The Wallenius Wilhelmsen group is a market leader in roll-on/roll-off (Ro-Ro) shipping and vehicle logistics, managing the distribution of cars, trucks, rolling equipment and breakbulk to customers all over the world. The company operates around 125 vessels servicing 15 trade routes to six continents, a global inland distribution network, 66 processing centers and eight marine terminals. With a head office in Oslo, Norway, the Wallenius Wilhelmsen group has 9,500+ employees located in 28 countries worldwide. Read more at: walleniuswilhelmsen.com

Source: NewsWeb