Norway’s Wallenius Wilhelmsen, a leading company in roll-on/roll-off (RoRo) shipping and vehicle logistics, has signed a big new transport deal with major company.

The company said the multi-year $290m agreement has been reached with Korea’s leading construction machinery company.

The shipowner has not named the client and gave details only about the contract.

The new agreement, which has a duration of three years, plus a two-year extension option, is valued at around $290m based on expected volumes over the three-year period.

The contract already started in January 2024, with rates in line with current market levels.

Pia Synnerman, chief customer officer at Wallenius Wilhelmsen, said: “This multi-year contract further strengthens our partnership with one of our key customers in the high and heavy segment, extending predictability for both the customer and Wallenius Wilhelmsen.”

The contract includes Wallenius Wilhelmsen’s Reduced Carbon Freight Service, which in accordance with the company, customers can typically reduce their Scope 3 CO2/GHG supply chain emissions by approximately 20-25% through the utilization of B30 biofuel.

Pia Synnerman added, “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.”