Norwegian car carrier operator Wallenius Wilhelmsen has signed two multi-year shipping contracts with large automobile OEMs, both including biofuel.
The first is a three-year shipping contract valued at approximately $263m over the contract period based on the assessed volume. This contract adopts Wallenius Wilhelmsen’s re-engineered bunker adjustment factor – BAF2.0 – for the Asia to North America trade lane.
The second is a two-year shipping deal worth around $112m for the contract period based on the agreed volume. The contract includes a fixed surcharge for biofuel use.
According to the company, rates are in line with current market levels. The two contracts begin in January and April 2025 respectively.
“These agreements add to our contracted book of business and are a great testament to our customers’ commitment to ensuring more sustainable freight by investing in the use of biofuel when transporting their cars with us,” said Pia Synnerman, chief customer officer at Wallenius Wilhelmsen.