Wallenius Wilhelmsen to Reactivate Up to 9 Laid Up Vessels
Wallenius Wilhelmsen, a Norwegian/Swedish RoRo shipping company, will reactivate up to 9 of its 16 vessels that are currently in cold layup.
The company, which owns 123 vessels, said Tuesday that the reactivation would take place during Q1 2021, and that the reactivated vessels would replace capacity currently sourced through short term charters.
“Flexibility in the fleet has been a core strategic choice since the inception of Wallenius Wilhelmsen, ensuring our ability to adjust the fleet to our needs and shifting market demand,” said Craig Jasienski, CEO of Wallenius Wilhelmsen.
"At the onset of the Covid-19 pandemic, Wallenius Wilhelmsen took decisive action to meet challenging market conditions by canceling dividends, as well as recycling and laying up vessels to preserve cash and reduce costs. While the company maintains its cautious volume outlook, scarcity of capacity and increasing rates in the time charter market make reactivation of vessels in layup a more cost-competitive option," the company said.
Wallenius Wilhelmsen also reminded that it had, in Q4 2020, introduced M/V Tannhauser vessel to its fleet, the third vessel in the Hero series, designed to provide operational and environmental efficiencies.
The fourth and final Hero vessel is under construction and is scheduled for delivery in Q2 2021.