WALLENIUS WILHELMSEN has declared an option for two additional 11,700 CEU Shaper class vessels at China Merchants Jingling Shipyard Co., Ltd.
The two declared options are part of the four previously announced outstanding options (DCN 27 September) and delivery is expected in H2 2028. As part of the agreement, WW will continue to hold options for two more vessels declarable by H2 2025.
The company also intends to upsize two additional vessels from 9,300CEU to 11,700 CEU, bringing the total of upsized Shaper vessels to eight.
“Exercising our options and upsizing further Shaper class vessels fit seamlessly with Wallenius Wilhelmsen’s net-zero ambition,” Xavier Leroi, VP & COO Shipping Services, said. “The vessels are prepared for net-zero and future fuels from day one and will reduce fuel consumption and emissions considerably.
“With our sight set on a net-zero future for shipping, upsizing and expanding our Shaper class is a step in the right direction toward that goal,” Mr Leroi said.
The cost of the two optional vessels and the upsizing of the two of the vessels on order, will be in line with the previous order of Shaper class vessels. Following this latest announcement, WW will have a total of 14 Shaper class vessels on order, 8 x 11,700 CEU and 6 x 9,300 CEU vessels.
WW recently reported the second strongest quarter on record with adjusted EBITDA of USD 503 million.
Lasse Kristoffersen, President and CEO, said all business units were performing well, and the activity level was high across the organisation. Year-to-date, all segments had delivered better than in 2023..
EBITDA was USD 471 million for the quarter and net profit ended at USD 259 million. Of the Q3 adjusted EBITDA, Shipping delivered USD 416 million, Logistics USD 47 million and Government USD 49 million.“Renewals for contracts expiring in 2024 are progressing well, as evidenced by the latest announcement of a five-year contract in the H&H segment [DCN 30 October]. We see strong and increased demand in areas where we have industry leading offerings, including shipping, logistics, integrated supply chain, digital and reduced emissions services,” Mr Kristoffersen said.
WW is confident 2024 will be another strong year. The company experiences continued strong demand for its services despite short-term softening sales of auto and heavy equipment globally, which is viewed more as a temporary softening rather than a structural shift, it says, and EBITDA for 2024 “will be somewhat better than 2023”.
