Norwegian car carrier operator Wallenius Wilhelmsen has signed two multi-year shipping deals worth around $1.2bn.
The first deal is with an undisclosed construction and mining equipment manufacturer with a duration of three years, plus a two-year extension option.
The contract is valued at around $1bn in total, based on expected volumes over the three years. The contract with the unnamed client, described only as “a key long-term partner,” has already started with amended rates in line with current market levels.
Wallenius Wilhelmsen also signed a multi-year shipping contract with an automotive distributor in the Americas. The contract with the company, which started in early 2024, is valued at around $200m based on anticipated volumes over two years. Rates are in line with present market levels.
Both customers’ have agreed to support the shipping firm’s decarbonisation initiatives, such as the use biofuel, technical and operational improvements to the existing fleet, and the development of new technologies.
Earlier this month, Wallenius Wilhelmsen signed a multi-year shipping contract with a South Korean construction machinery company and added two new vessels to its fleet.