The Norwegian/Swedish shipping company Wallenius Wilhelmsen recently signed a multi-year contract with a major firm in the premium car segment, valued at more than US$1 billion over three years, covering both shipping and logistics services, as well as the use of biofuel.
The agreement has a duration of three years, plus a mutual two-year extension option. The contract started between January and April 2024 with rates in line with current market levels.
Lasse Kristoffersen, president, and CEO of Wallenius Wilhelmsen, stated, “We see manufacturers shifting priorities and increasingly looking for solutions which provide predictability in their supply chains. In this case, it means longer-term contracts encompassing both logistics and shipping services. This goes hand in hand with Wallenius Wilhelmsen’s goal of being a total solution provider in finished vehicle logistics. This multi-year contract allows for better long-term planning and extended predictability both for the customer and us.”
Commenting on the biofuel use, which is included in the new contract, Pia Synnerman, chief customer officer of Wallenius Wilhelmsen, said, “Environmentally conscious customers recognize the urgency when it comes to decarbonizing global supply chains. Using biofuel is a strategic decision for this customer.”