The Norwegian carrier shipping company Wallenius Wilhelmsen has extended its contract with an undisclosed car manufacturer by five years.
The value of the cooperation is stated to be $380 million over the term of the agreement.
According to the company, the agreement will begin on April 1, 2025, with rates to be in line with current market levels.
“We are pleased to announce this multi-year agreement with a long-standing customer, which strengthens our existing partnership,” said Pia Synnerman, Chief Customer Officer at Wallenius Wilhelmsen. “This underlines the customer’s commitment to securing long-term ocean freight capacity and enables us to provide first-class service and support our customer in achieving their goals.”
The shipping company closed 2024 with a record result. In the last quarter alone, adjusted EBITDA was $452 million, and the company expects continued strong performance in 2025. Just a few days ago, Wallenius announced that it would extend its contract with another car manufacturer by ten years from 2027. The expected turnover is 2 billion dollars.
