Norwegian car carrier giant Wallenius Wilhelmsen is advancing its fleet renewal programme, following a $300 million capital raise to support plans for up to 12 additional LNG dual-fuel vessels.
The Oslo-listed company issued an update on its newbuilding programme on Wednesday, following its earlier announcement of plans to order four large car carriers for delivery in 2030, with options for eight additional vessels.
Under the proposed expansion, the optional vessels would be delivered quarterly from 2031 onwards. If all options are exercised, the company’s overall newbuilding programme could reach 26 vessels, including options, with deliveries extending through 2032.
Wallenius Wilhelmsen completed a NOK 2.88 billion ($300 million) private placement on October 6, issuing 17.145 million shares at NOK 168 each. The proceeds, alongside debt financing, are intended to fund the expanded shipbuilding programme.
The latest plans build on the company’s existing Shaper-class newbuilding series at China Merchants Jinling Shipyard in China, where 14 vessels have already been contracted. The series comprises six car carriers with a capacity of 9,300 car equivalent units (CEU) each and eight larger vessels with a nominal capacity of 11,700 CEU.
Of the 14 contracted vessels, seven are equipped with LNG dual-fuel propulsion systems, while the remaining seven will use methanol dual-fuel engines, reflecting the company’s approach to fleet modernisation and alternative-fuel technology.
The expanded newbuilding programme is aimed at replacing ageing vessels, improving fleet efficiency and meeting the long-term requirements of global vehicle shipping. Wallenius Wilhelmsen currently operates approximately 127 vessels across 15 global trade routes.
The proposed additions would strengthen the company’s capacity to serve the global automotive and roll-on/roll-off (RoRo) shipping markets while advancing its long-term fleet renewal strategy.