Norway-headquartered car carrier operator Wallenius Wilhelmsen has renewed a shipping contract with an estimated value of around $190m.
The company sealed the deal with a ‘global automotive distributor’ with an estimated net freight value of approximately $190m during a firm period of two years.
The contract duration is two years firm with a one-year mutual extension option and includes a fixed surcharge for multi-fuel use.
Pia Synnerman, chief customer officer at Wallenius Wilhelmsen, said: “We are pleased to offer our customer a tailor-made service to aid their inventory optimization goals going forward. We look forward to continuing our collaboration with a valued partner, supporting their growth and ambitions with reliable shipping solutions.”
In January, Wallenius Wilhelmsen signed a one-year shipping contract with a major Asian vehicle and heavy equipment manufacturer. The contract is estimated to have a value of around $130m based on the stipulated contractual volume.
In December, the company also extended two key strategic contracts for shipping services with an estimated additional value of close to $500m. The first contract is with a premium European auto manufacturer and is extended by three additional years, with the new contract now ending in 2030.
The contract is estimated to have a total value of $580m, with the extension value being $384m based on expected volumes. The contract extension includes additional volumes and trade lanes.
The second contract is with a European heavy equipment manufacturer and is extended for two additional years with the new contract being valid through 2028.
The contract has an estimated total value of $175m, with the extension value being $114m, based on expected volumes.
The Wallenius Wilhelmsen group operates around 127 vessels servicing 15 trade routes to six continents, a global inland distribution network, 70 processing centers and eight marine terminals.
