Wallenius Wilhelmsen is moving forward with its fleet renewal plan by ordering four new dual-fuel car carriers, with options to add eight more. This deal could bring up to 12 new ships at a cost of about $1.5 billion.
On Wednesday, the Norwegian shipping and logistics company announced an agreement with Jinling Shipyard in China to build four pure car and truck carriers (PCTCs) that can carry 9,900 cars each. The first deliveries are expected to start in mid-2030.
The agreement also includes options for four more ships in 2031 and an additional four in 2032. If all options are taken, the total investment could reach around $1.5 billion.
These new ships will feature dual-fuel LNG engines and will be built according to Wallenius Wilhelmsen's Shaper Class design. This design includes hoistable decks, robust ramps, and flexible cargo spaces to accommodate various vehicles, including passenger cars and trucks.
With this latest order, the company's fleet renewal initiative has grown to include 26 vessels, counting the options. This is part of a new shipbuilding campaign that began in 2023, which Wallenius Wilhelmsen describes as the biggest in its history.
Xavier Leroi, chief operating officer of shipping services at Wallenius Wilhelmsen, stated, “We continue to see attractive opportunities in the segments we serve and want to ensure we have the capacity, flexibility, and efficiency needed to support our customers well into the next decades.”
He added, “Expanding our newbuilding program with deliveries starting in 2030 shows our confidence in the long-term outlook of the market.”
This new order comes after a private equity placement completed earlier this month as the company invests in its long-term fleet needs.
Wallenius Wilhelmsen is already taking delivery of vessels under its existing Shaper Class program. The new ships are aimed at modernizing the fleet and increasing capacity in its global shipping network.
The company mentioned that the flexible cargo configurations of these vessels will help them adapt to changing demands in both the automotive and heavy equipment markets.
This investment also highlights the company's shift towards vessels that can use alternative fuels. Using LNG for dual-fuel propulsion can reduce certain emissions compared to traditional marine fuels, although the overall environmental benefits depend on factors like methane emissions and sourcing of the fuel.
Based in Oslo, Wallenius Wilhelmsen operates around 130 vessels across 15 trade routes that connect six continents. Their logistics network also includes vehicle processing centers, inland distribution operations, and marine terminals.
The expanded newbuilding program will help the company maintain its capacity and operational flexibility as it prepares for future shipping demands in the coming decade.