Wallenius Wilhelmsen Signs USD 700 Million Shipping Contract with Asian Automaker

Wallenius Wilhelmsen signed a three-year ocean transportation contract with a major Asian automaker, with an estimated value of approximately USD 700 million. The agreement includes a two-year extension option, subject to mutual agreement, and envisions a multi-fuel approach across all trade routes to enable the gradual introduction of alternative, lower-emission fuels.

According to John Felitto, Chief Customer Officer at Wallenius Wilhelmsen, the agreement builds on an existing relationship of trust with the customer and strengthens the company's position as a key logistics partner, providing a stronger foundation for offering integrated ocean transportation, logistics and supply chain solutions. The agreed rates are in line with current market levels.

This new contract adds to a series of recent agreements by the Norwegian carrier, which in five days secured more than USD 1.7 billion in announced contracts. Days earlier, the company had closed two contracts worth more than USD 1 billion with an equipment manufacturer, including close to USD 950 million in ocean transportation and nearly USD 100 million in logistics services. Throughout the year, Wallenius Wilhelmsen also agreed to an early extension worth USD 420 million with a European automaker in June, a USD 190 million automotive distribution renewal in March, and a USD 130 million transportation contract with an Asian manufacturer of vehicles and heavy equipment in January.

The new contracts come on top of the expansion of the carrier's fleet renewal program at the Chinese shipyard Jinling Shipyard, where it recently confirmed the construction of four 9,900 CEU dual-fuel LNG car carriers, with options for eight additional units. The new vessels are expected to be delivered between 2030 and 2032, with a total investment that could reach USD 1.5 billion if all options are exercised.