The shipping company Wallenius Wilhelmsen has signed a contract with an Asian car manufacturer. The contract is initially for three years and may be extended.
The shipping company, which specialises in car carriers, announced that the new contract with an unnamed manufacturer is worth $700 million. The rates are said to be in line with current market levels.
The three-year term may be extended by up to two years, subject to the agreement of both parties. The agreement also provides for a ‘multi-fuel’ approach across all trade routes, designed to facilitate the gradual introduction of alternative and lower-emission fuels.
“This agreement builds on a successful collaboration and the trust we have established with the customer across our various services,” says John Felitto, who has been Chief Customer Officer at Wallenius Wilhelmsen since November. “This significant long-term commitment strengthens our position as a key logistics partner and creates an even more solid foundation for offering end-to-end solutions – from shipping and logistics to supply chain services.”
Just recently, the RoRo shipping company announced two new orders with an equipment manufacturer, totalling $1 billion. The company is also planning a significant expansion of its fleet: at least four new ‘Shaper Class’ vessels, each with a capacity of 9,900 TEU, are being built in China, with up to eight more to follow.
