Related Party Transaction • Jan 30, 2024
Related Party Transaction
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Wallenius Wilhelmsen signs multi-year contracts with a world leading equipment manufacturer and with a prominent automotive distributor
Oslo, 30 January 2024 – Wallenius Wilhelmsen has recently signed significant contracts with a leading global construction and mining equipment manufacturer, as well as one of the largest automotive distributors in the Americas.
The multi-year shipping contract with one of the world’s leading construction and mining equipment manufacturers has a duration of three years, plus a two-year extension option. The contract is valued at approximately USD 1 billion in total, based on expected volumes over the three-year period. A key long-term partner, the renewed agreement commenced in November 2023, with amended rates in line with current market levels.
In addition, Wallenius Wilhelmsen recently 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 USD 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 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.
For further information, please contact:
Anders Redigh Karlsen – VP Investor Relations & Market Insight
Tel: +47 994 20 293
Email: [email protected]
David Hopkins – External Communications Manager
Tel: +47 942 88 486
Email: [email protected]
The Wallenius Wilhelmsen group is a market leader in roll-on/roll-off (RoRo) shipping and vehicle logistics, managing the distribution of cars, trucks, rolling equipment and breakbulk to customers all over the world. The company operates around 125 vessels servicing 15 trade routes to six continents, a global inland distribution network, 66 processing centers and eight marine terminals. With a head office in Oslo, Norway, the Wallenius Wilhelmsen group has 9,500 employees working across 28 countries worldwide.
Read more at: walleniuswilhelmsen.com
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