Wallenius Wilhelmsen signs a significant multi-year shipping contract with Korea's leading construction machinery company
Wallenius Wilhelmsen recently signed a significant multi-year shipping contract
with Korea's leading construction machinery company. The new agreement, which
has a duration of three years, plus a two-year extension option, is valued at
approximately USD 290 million in total, based on expected volumes over the
three-year period. The contract commenced in January 2024, with rates in line
with current market levels.
"This multi-year contract further strengthens our partnership with one of our
key customers in the high and heavy segment extending predictability not only
for us, but also for the customer," says Pia Synnerman, Chief Customer Officer
at Wallenius Wilhelmsen.
The contract includes Wallenius Wilhelmsen's Reduced Carbon Freight Service,
whereby through the utilization of B30 Biofuel, customers can typically reduce
their Scope 3 CO2/GHG supply chain emissions by approximately 20-25%. Synnerman
adds, "We are witnessing a transformation in customers' sense of urgency
regarding the need to decarbonize their supply chains. Customers are partnering
up with us and are increasingly committed to securing more sustainable
solutions, such as biofuel."
For further information, please contact:
Anders Redigh Karlsen - VP Investor Relations & Market Insight
Tel: +47 994 20 293
Email: anders.karlsen@walwil.com
David Hopkins - External Communications Manager
Tel: +47 942 88 486
Email: david.hopkins@walwil.com
About Wallenius Wilhelmsen:
The Wallenius Wilhelmsen group is a market leader in roll-on/roll-off (Ro-Ro)
shipping and vehicle logistics, managing the distribution of cars, trucks,
rolling equipment and breakbulk to customers all over the world. The company
operates around 125 vessels servicing 15 trade routes to six continents, a
global inland distribution network, 66 processing centers and eight marine
terminals. With a head office in Oslo, Norway, the Wallenius Wilhelmsen group
has 9,500+ employees located in 28 countries worldwide.
Read more at: walleniuswilhelmsen.com