Wallenius Wilhelmsen orders two more future fuels-ready 11,700 CEU Shaper class PCTCs

Norwegian shipping and logistics company Wallenius Wilhelmsen has exercised an option for two additional 11,700 CEU methanol dual-fuel Shaper class pure car and truck carriers (PCTCs) to be built in China.

What is more, the company decided to upsize two additional vessels from 9,300 CEU to 11,700 CEU, bringing the total of upsized Shaper vessels to eight.

“Exercising our options and upsizing further Shaper class vessels fit seamlessly with Wallenius Wilhelmsen’s net-zero ambition,” Xavier Leroi, EVP & COO of Shipping Services at Wallenius Wilhelmsen, commented.

“The vessels are prepared for net-zero and future fuels from day one and will reduce fuel consumption and emissions considerably. With our sight set on a net-zero future for shipping, upsizing and expanding our Shaper class is a step in the right direction toward that goal.”

As informed, the two additional 11,700 CEU Shaper class vessels will be built at China Merchants Jingling Shipyard, as its sister vessels. The two declared options are part of the four previously announced outstanding options. Delivery is expected in H2 2028, according to the company.

To remind, the company declared options to build four next-gen Shaper class units in February 2024. A month later, it opted for four more options at the aforementioned yard.

“As part of the agreement, Wallenius Wilhelmsen will continue to hold options for two more vessels declarable by H2 2025,” the Norwegian company said.

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.

Following the new announcement, Wallenius Wilhelmsen will have a total of fourteen Shaper class vessels on order, eight 11,700 CEU and six 9,300 CEU vessels.

Wallenius Wilhelmsen reports ‘the second strongest quarter on record’

In late October, the company delivered a third-quarter adjusted EBITDA of $503 million, compared to $478 million seen in the corresponding period a year earlier.

Total revenue rose to $1.4 billion in Q3 2024 from $1.3 billion reported in Q3 2023.

What is more, EBITDA was $471 million for the quarter and net profit ended at $259 million, compared to $478 million and $279 million in Q3 2023, respectively.

“We are proud to announce the second strongest quarter on record with adjusted EBITDA of USD 503m,” Lasse Kristoffersen, President and CEO at Wallenius Wilhelmsen, said on October 30, 2024.

Kristoffersen is confident 2024 will be “another strong year”. The company explained it experiences continued strong demand for its services despite short-term softening sales of auto and heavy equipment globally, which is viewed more as a temporary softening rather than a structural shift.

Wallenius Wilhelmsen further said it is progressing with contract renewals and attractive financing for newbuilds. During the third quarter, it secured “attractive” financing for six Shaper class vessels.