Norwegian car carrier operator Wallenius Wilhelmsen has entered into a five-year agreement with an unknown client described by the company as an agriculture, forestry, and roadbuilding equipment manufacturer.
The new multi-year shipping and logistics agreement is a renewed deal and will begin on December 1, 2024, and is valued at approximately $766m in total, based on expected volumes over the five years.
According to the company, rates are in line with current market levels and the agreement includes a partnership on decarbonization, whereby the customer agrees to pay for the phase-in of green and renewable fuels.
“Strengthening our long-term partnership with a key high and heavy customer, the agreement reflects the customer’s need to secure predictable long-term ocean capacity and commitment to decarbonizing their supply chain”, said Pia Synnerman, chief customer officer at Wallenius Wilhelmsen.
The new deal will complement the existing logistics and digital supply chain scope the company currently provides for the client, including the management of product and information flows along the entire outbound supply chain, from factories to ports in destination regions.