Ukraine Situation

Wallenius Wilhelmsen suspends operations in Russia and Belarus. The company discontinued services into Russia on February 24, and stopped taking cargo bookings at the same time. Cargo on the water heading for Russia were re-routed to alternative ports. Future cargo bookings into the region have been delayed or are cancelled. We have now decided to formally suspend our operations until further notice.

Since Russian military operations in Ukraine began, world leaders from the US, EU and UK, in addition to others, have announced a wide range of punitive measures (economic sanctions and other restrictive actions) against the Russian elite and various sectors of the Russian economy. Wallenius Wilhelmsen has no vessels going into the area, but sanctions will cause disruption to our operations. We are preparing and considering actions such as the need and availability of terminal spaces at various ports in the EMEA region and subsequent potential disruption to delivery of cargo already on the water. These preparations and talks happen in close dialog with our customers.

To closely monitor the development and provide recommendations to group management, we have established an advisory group. The advisory group will be proactive in communicating both internally and externally to avoid confusion and make sure there is a tight alignment in everything we say and do. Wallenius Wilhelmsen is a Norwegian company and we comply with measures taken by the Norwegian authorities.

Words are insufficient to describe how we all feel. History has taught us over and over that war is not the solution. Let us hope that rationality and sanity return, that dialog will lead to peace.