Wallenius Wilhelmsen bags $1.2 billion worth of new contracts
Wallenius Wilhelmsen recently signed significant contracts with a global construction and mining equipment manufacturer and one of the largest automotive distributors in the Americas.
The shipping contract with a prominent construction and mining equipment manufacturer has been renewed for three years, with an option to extend it for two more years. The contract’s total value is estimated to be around $1 billion based on expected volumes over the three-year period. This partnership has been a key long-term association for both the parties. The renewed agreement came into effect from November 2023, with rates amended to match the current market levels.
In addition, Wallenius Wilhelmsen signed a multi-year shipping contract with one of the largest automotive distributors in the Americas. The contract, which commenced in early 2024, is valued at approximately $200 million based on anticipated volumes over a two-year period. Rates are in line with present market levels.
Both customers’ agreements include direct support for Wallenius Wilhelmsen’s decarbonisation initiatives, such as the use of biofuel, technical and operational improvements to the existing fleet, and the development of new technologies.
“Continuing our positive start to 2024, these two separate, significant multi-year contracts further strengthen our existing partnerships with key customers in the high and heavy and automotive segments, extending predictability for both the customer and Wallenius Wilhelmsen” says Pia Synnerman, Chief Customer Officer at Wallenius Wilhelmsen.