Norwegian shipowner and Ro/Ro specialist Wallenius Wilhelmsen has recently signed significant contracts with a leading global construction and mining equipment manufacturer, and also additionally with one of the largest automotive distributors in the Americas.
The signed contract with one of the world’s leading construction and mining equipment manufacturers has a duration of three years, plus a two-year extension option, as the company states, and is valued at approximately $1 billion in total, based on expected volumes over the three-year period.
This renewed agreement with the long-term partner commenced in November 2023, with amended rates in line with current market levels.
Wallenius Wilhelmsen has also recently signed a multi-year shipping contract with one of the largest automotive distributors in the Americas, with the contact to commence in early 2024. This contract is valued at approximately $200 million based on anticipated volumes over a two-year period, with the rates being in line with present market levels.
Wallenius Wilhemsen states that these two customers’ agreements include direct support for the company’s decarbonization initiatives like the use of biofuel, technical and operational improvements to the existing fleet, and the development of new technologies.
Pia Synnerman, chief customer officer at Wallenius Wilhelmsen, noted that “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.”
Photo credit: Wallenius Wilhelmsen. Pia Synnerman CCO at Wallenius Wilhelmsen.
