Wallenius Wilhelmsen signs two multi-year contracts
Wallenius Wilhelmsen signs two multi-year shipping contracts with large auto
OEMs, both including biofuel. "The contracts are a great testament to our
customers' commitment to ensuring more sustainable freight," says Pia Synnerman
Chief Customer Officer at Wallenius Wilhelmsen.
Both contracts are with leading auto OEMs and span over multiple years.
The first is a three-year shipping contract. It is valued at approximately USD
263 million over the contract period based on the assessed volume. This contract
adopts Wallenius Wilhelmsen's re-engineered bunker adjustment factor, BAF2.0,
for the Asia to North America trade lane.
The second is a two-year shipping contract. The value is approximately USD 112
million for the contract period based on the agreed volume. The contract
includes a fixed surcharge for biofuel use.
Rates are in line with current market levels. The contracts commence in January
and April 2025 respectively.
"These agreements add to our contracted book of business and are a great
testament to our customers' commitment to ensuring more sustainable freight by
investing in the use of biofuel when transporting their cars with us. We are
dependent on forward-leaning customers who join us on the path to net-zero,"
says Pia Synnerman Chief Customer Officer at Wallenius Wilhelmsen.
Additionally, as previously communicated, we plan to issue an update on our 2024
outlook and our outlook for 2025. This update will be published on 16 December
ahead of the market opening.
For further information, please contact:
Anders Redigh Karlsen - VP Global IR & Market Insight
Tel: +47 994 20 293
Email: anders.karlsen@walwil.com
Idha Toft Valeur - Media Contact
Tel: +47 406 05 210
Email: idha.valeur@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 working across 28 countries worldwide.
Read more at: walleniuswilhelmsen.com