Wallenius Wilhelmsen inks $580 million multi-year shipping contract

Norwegian shipping and logistics company Wallenius Wilhelmsen has signed a multi-year shipping contract with an undisclosed automotive manufacturer.

As informed, the contract will commence on January 1, 2025, and last three years and three months. Its total estimated value is $580 million over the contract period. Rates are said to be in line with current market levels.

Pia Synnerman, Chief Customer Officer at Wallenius Wilhelmsen, commented: “We are pleased to announce this multi-year agreement with a long-term customer strengthening our existing partnerships. This demonstrates their commitment to securing long-term ocean capacity and enables us to deliver a best-in-class service helping our customer reach their ambitions.”

It was not revealed whether this contract is related to last week’s pure car and truck carrier (PCTC) order.

To remind, on November 8, 2024, Wallenius Wilhelmsen exercised an option for two additional 11,700 CEU methanol dual-fuel Shaper class PCTCs to be built at China Merchants Jingling Shipyard.

The two declared options are part of the four previously announced options. Delivery is expected in H2 2028. The company revealed it will continue to hold options for two more vessels declarable by H2 2025.

To note, Wallenius Wilhelmsen also intends to upsize two additional vessels from 9,300 CEU to 11,700 CEU, bringing the total of upsized Shaper vessels to eight.

The cost of the two optional vessels and the upsizing of the two of the vessels on order will be in line with the previous order of Shaper class vessels.

Including this new order, Wallenius Wilhelmsen will have a total of 14 Shaper class vessels on order, 8 x 11,700 CEU and 6 x 9,300 CEU vessels.