Norwegian car carrier player Wallenius Wilhelmsen has secured a new multi-year shipping contract with a European automaker.
The Oslo-listed company said Friday the deal with an unnamed long-term customer would last five years, starting this April.
“This demonstrates their commitment to securing long-term ocean capacity,” noted Pia Synnerman, chief customer officer at Wallenius Wilhelmsen.
Rates are in line with the current market and are expected to generate around $380m over the contract period.
Earlier this week, the company, which operates more than 120 car carriers on 15 trade routes, also landed a major 10-year vehicle logistics deal with another existing customer. The extension is effective from April 2027 and has an estimated value of around $2bn.