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Wallenius Wilhelmsen Secures Major Shipping Deal with Korean Machinery Giant

Reuters
Total Views: 2082
January 22, 2024

Wallenius Wilhelmsen, a leading Norwegian roll-on/roll-off (RoRo) shipping provider, has inked a major multi-year shipping agreement with Korea’s top construction machinery company.

The deal, which spans over three years with an option for a two-year extension, is estimated to be worth around USD 290 million, based on projected volumes for the initial three-year term. The contract took effect in January 2024.

“This multi-year contract further strengthens our partnership with one of our key customers in the high and heavy segment, extending predictability for both the customer and Wallenius Wilhelmsen,” says Pia Synnerman, Chief Customer Officer at Wallenius Wilhelmsen.

Moreover, the agreement incorporates Wallenius Wilhelmsen’s Reduced Carbon Freight Service. This initiative allows clients to cut their Scope 3 CO2/GHG supply chain emissions by about 20-25% through the usage of B30 Biofuel.

Synnerman noted that they are observing a shift in customers’ urgency to decarbonize.

“We are witnessing a transformation in customers’ sense of urgency regarding the need to decarbonize their supply chains,” said Synnerman. “Customers are partnering up with us and are increasingly committed to securing more sustainable solutions, such as biofuel.”

Headquartered in Oslo, Norway, Wallenius Wilhelmsen operates around 125 vessels serving 15 trade routes, a global inland distribution network, 66 processing centers, and eight marine terminals.

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