Wallenius Wilhelmsen returns three more vessels from cold lay-up
Wallenius Wilhelmsen has reactivated three more vessels from cold lay-up. The ro/ro carrier laid up 15 vessels following the outbreak of the Covid-19 pandemic due to a significant fall in demand. At the start of this year, the company reactivated nine vessels.
The three additional vessels that are now returning will replace short-term time charter capacity. The decision was made in response to growing demand together with rising rates and lack of capacity in the time charter market. The vessels are expected to be back in service in June and July.
“As part of our operations, we have the ability to adjust the fleet to our needs and changing market conditions”, says Craig Jasienski, CEO of Wallenius Wilhelmsen.
Four more vessels
With some industries showing signs of recovery, there is potential for the remaining four vessels in lay-up to be reactivated later in the year, returning the carrier’s fleet back to full strength.
“While it remains challenging to predict the potential market impact from virus intensity in parts of the world, the overall industry supply-demand balance is expected to improve in the mid-term due to overall global fleet reduction, low order book and a rebound in volumes during 2021”, Jasienski says.