Wallenius Wilhelmsen’s new $1 billion multiyear car-shipping contract includes marine biofuel

Photo: Wallenius Wilhelmsen

Wallenius Wilhelmsen announced April 9 that it has recently signed another significant multiyear contract.

The new agreement with a leading global player in the premium-car segment is valued at more than USD$1 billion over three years, covering both shipping and logistics services, as well as the use of biofuel.

The multiyear contract has a duration of three years, plus a mutual two-year extension option.

The contract started between this January and April with rates in line with current market levels. 

“We see manufacturers shifting priorities and increasingly looking for solutions that provide predictability in their supply chains,” said Lasse Kristoffersen, president and CEO at Wallenius Wilhelmsen.

“In this case, it means longer-term contracts encompassing both logistics and shipping services,” Kristoffersen said.

“This goes hand in hand with Wallenius Wilhelmsen’s goal of being a total solution provider in finished-vehicle logistics,” Kristoffersen added.

“This multiyear contract allows for better long-term planning and extended predictability both for the customer and us.”

This contract includes the use of biofuel.

“Environmentally conscious customers recognize the urgency when it comes to decarbonizing global supply chains,” said Pia Synnerman, chief customer officer at Wallenius Wilhelmsen.

“Using biofuel is a strategic decision for this customer,” Synnerman added.