Wallenius Wilhelmsen has successfully renewed two important shipping contracts, adding nearly USD 500 million in value. This move shows strong confidence in the company's long-term partnerships and its goal of achieving zero-emission maritime transport.

The Norwegian shipping company announced these extensions with two major European manufacturers, both of which include ambitious environmental goals that align with the company's target of reaching net-zero by 2040.

“These renewed contracts reflect the strength of our long-standing partnerships that both prioritize zero emissions and focus on developing integrated supply chains,” said Pia Synnerman, Chief Customer Officer at Wallenius Wilhelmsen.

The larger contract is with a well-known premium European auto manufacturer and has been extended for three additional years, lasting until 2030. The total value of this agreement is USD 580 million, with USD 384 million based on expected volumes. The renewed deal also covers more volumes and trade routes than initially outlined.

The rates are in line with current market conditions, and this agreement will start in October 2025. Importantly, both parties aim to reduce emissions, which is reflected in a multi-fuel bunker adjustment factor (BAF) mechanism that supports their path to net-zero by 2040.