High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
Wallenius Wilhelmsen ASA (WWL) said it has signed a deal with Hyundai Heavy Industries (HHI) for the construction of two Post Panamax car carriers to be delivered in 2014 and 2015.
“Although the car carrying market at the moment might be somewhat weaker than we would like, we believe that the long term underlying growth potential for deep sea transportation of cars and high and heavy equipment is strong and positive,” says Jan Eyvin Wang, president and CEO in WWASA. “We are therefore pleased to have come to an agreement with HHI to build two state of the art Post Panamax car carriers. The agreement also includes an option to build another two vessels.”
WWL says the vessels will have a car carrying capacity equivalent to 7,930 CEUs, be 200 meters long and have a beam width of 36.7 meters, approximately 4.3 meters wider than today’s car carriers.
“These vessels are specially designed to cater to the demands of the automotive, rolling equipment and manufacturing industries, with regard to both capacity and quality. An efficient design enabling optimum cargo handling, together with the latest environmental solutions will ensure that we continue to deliver first-class value to our customers,” says Arild B Iversen, president and CEO in WWL.
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