2024: So far, a hectic year for Wallenius Wilhelmsen

We came out of 2023 with record results, all three business segments delivering strong results. Last year ended seriously when we on December 18 decided to re-route all vessels around Africa to avoid the Red Sea and the Suez Canal due to the ongoing Israel-Hamas war and Houthi missile attacks. It impacted our vessel capacity this year because of extended sailing routes. We do not however compensate with higher sailing speed as that would affect our emissions negatively.

Safety is our top priority. We closely monitor the situation with authorities and industry bodies. Despite these and other global uncertainties, we believe 2024 to be “somewhat better/stronger” than 2023.

In the past six months, Wallenius Wilhelmsen has renewed and entered new contracts at record speed, with a strong focus on reducing emissions. Nearly all customers now include reduced carbon freight services in their contracts, showing a growing urgency to decarbonize supply chains. We have also acquired a new vessel and plan upgrades to maintain a sustainable, efficient, and modern fleet. Additionally, we confirmed the construction of 12 new vessels, the first set to enter the market in the latter half of 2026, highlighting our commitment to sustainability with enhanced fuel efficiency and cargo capacity.

We sold the MIRRAT terminal in Melbourne but maintained operations there, ensuring no service disruption. We signed a Memorandum of Understanding (MOU) between the Pyeongtaek International Ro-Ro Terminal (PIRT) in Korea and the Port of Hueneme in California to create a potential green automotive shipping corridor to the West Coast of the USA. On the East Coast, we increased our strategic terminal network in Brunswick by signing a 20-year lease with the Georgia Ports Authority, with options up to 30 years. We also opened two new container processing centers in Tacoma, Washington, and Houston, Texas, expanding our warehouse space to over 400,000 square feet, dedicated to finalizing and distributing high and heavy OEM containerized machines.

This year, Wallenius Wilhelmsen faced challenges as well. It includes the Baltimore bridge collapse affecting the M/V Carmen vessel which was dockside when the crash happened. Carmen waited for one month before it got passageway to sail. Our thoughts are with the families of the deceased bridge workers. In Noumea, South Caledonia, amidst a political and social crisis, we ensured the safety of our suppliers and partners while continuing operations. Throughout these events, our commitment to safety for our crew, people on land, cargo, and vessels remains unwavering.

This year demonstrates our resilience and dedication to safety, sustainability, and operational excellence. We look forward to continuing this momentum and achieving even greater success in the months to come.